Giga project: Launch of mini Dubai starts in Budapest
As we reported last month, the Orbán cabinet is planning to carry out an 800-million-euro infrastructure development project in Budapest’s downtown: the so-called mini Dubai project. The plans involve even the erection of a skyscraper not far from the Heroes’ Square. Now, the preparation of the Rákosrendező site has begun, with legal notices sent to tenants and untitled land users.
Mini Dubai project in its newest phase
Based on the order of the Ministry of Construction and Transport (ÉKM), MÁV Plc. has initiated the termination of leases and other rights of use. It called on the users of the properties left behind or erected without permission to hand over the land, the Ministry said in a statement sent to the Hungarian News Agency (MTI), mfor.hu reports.
The next step in the preparation of the project will be the removal of about 175,000 tonnes of construction debris from the demolition of the burnt-down Budapest Sports Hall (Budapest Sportcsarnok, BS), the sale of railway materials owned by the state, and the recultivation and remediation of the area, the Ministry said.
During the works, it is not only forbidden but also dangerous for unauthorised persons to be on-site, they pointed out.
The aim of the ÉKM is to complete the clearance of the site by the end of the summer and start the next phase of property development.
The statement recalled that the Hungarian government has decided on a large-scale real estate development project – the construction of a new millennium district – on the largely abandoned former industrial land surrounding and adjacent to the Rákosrendező railway station. We wrote about this in detail HERE.
Not everyone considers the mini Dubai a good idea
The project would see an Arab investor build office buildings and luxury apartments in the area. The government would also invest at least HUF 300 billion (EUR 770 million) in infrastructure development. The plans would also include a 220-240 metre skyscraper, which is fiercely opposed by the municipality of the capital led by Mayor Gergely Karácsony. He would rather support a Park City at the site instead of the planned mini Dubai.
Preparation of the sites began this week after the Ministry, as the owner of MÁV Plc., ordered the immediate termination of all leases, tenancies and other use contracts concluded by the railway company. As ordered, MÁV Zrt. has initiated the termination of some 65 lease and other occupancy contracts, and notices of termination or initiation of collective agreement were sent to all concerned this week.
Read also:
- Orbán cabinet committed to building mini-Dubai with UAE firm and skyscraper in Budapest
- Scandal: Dubai billionaire can build skyscraper near Heroes’ Square
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