VSquare: Trump Tower can be built in Budapest!
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According to sources close to journalist Szabolcs Panyi, investigative editor at VSquare, it appears plausible that Jared Kushner, Donald Trump’s son-in-law, may oversee the construction of a Trump Tower—or a skyscraper resembling one—in the heart of Budapest. The project would involve a partnership with Eagle Hills, a United Arab Emirates-based developer that recently acquired the Rákosrendező site from the Hungarian government. This would not be their first collaborative construction project.
Budapest leadership strongly oppose the Grand Budapest project
As we previously reported HERE, the Hungarian government recently sold 85 hectares of land near central Budapest. This area, surrounding the Rákosrendező train station, is a brownfield site viewed by the city’s leadership as a “golden reserve” for future housing developments. Mayor Karácsony argues that Budapest has pre-emption rights over the site and plans to assert these in court. Dávid Vitézy, a former rival for the mayoralty and a figure aligned with Prime Minister Viktor Orbán’s Fidesz party, had previously expressed support for the mayor’s stance on this issue.
Despite these objections, the Hungarian government has signed a deal with the UAE that reportedly grants the Emirati monarch exclusive rights to determine which companies and projects are permitted on the site. Critics argue this arrangement surrenders a portion of Hungary’s sovereignty. Karácsony has denounced the agreement as unacceptable and appears resolute in challenging it legally.
Minister of Construction János Lázár has previously assured the press that the government would not permit developments in Budapest that go against the will of its leadership or residents.
Trump Tower could be built in Rákosrendező
Media reports suggest the Grand Budapest project includes plans to construct skyscrapers similar to the Trump Tower. Minister Lázár, an enthusiastic supporter of the initiative, has stated that no building should exceed 120 metres in height. However, VSquare’s latest newsletter reveals that the contract between Hungary and the UAE allows for structures between 250 and 500 metres tall—far exceeding Lázár’s stated limit.
Notably, the Hungarian government retains veto rights over development proposals for the Rákosrendező site, which could theoretically prevent the construction of excessively tall buildings that might disrupt Budapest’s historic skyline. Nevertheless, visuals shared by Telex—which you can view HERE—suggest dramatic changes could lie ahead.
And here is an AI-generated depiction of Heroes’ Square with Trump Tower-style skyscrapers in the background:
While Budapest Mayor Gergely Karácsony and the city leadership envision a green, park-focused development for the Rákosrendező area, the Hungarian government appears steadfast in backing the claims of an Arab investor. Notably, the contract stipulates that the purchase price—widely criticized as unusually low at HUF 50 billion (around €122,000)—would only be paid after the Orbán administration completes a €762 million traffic and infrastructure overhaul in the area. However, VSquare has uncovered further details suggesting even more ambitious plans tied to the project.