Orbán family associate develops massive new residential project in Budapest
Adnan Polat, a Turkish businessman closely linked to the Orbán family, is set to continue the development of the City Pearl residential complex on Soroksári Road, next to MÜPA (Palace of Arts) in Budapest, with four new phases.
A huge residential project
The Millennium Tower III and II office buildings in District IX of Budapest, close to Soroksári Road. Photo: MTVA/Bizományosi: Róka László
Polat’s project company, APD Real Estate Ltd., submitted applications in July for preliminary environmental impact assessments and unified environmental usage permits for the third, fourth, fifth, and sixth phases of the six-phase project on the 4.6-hectare site of the former Közvágóhíd, Népszava writes. These applications were filed with the Pest County Government Office, known for its close ties to the Hungarian government.
The first two phases received permits without prior assessment, under the assertion that they would have no environmental impact. According to the submitted documents, the new concrete structures, the influx of thousands of residents and cars, as well as new restaurants and shops, will similarly have no significant environmental effects.
The new development, bounded by Vágóhíd Street, Soroksári Road, Máriássy Street, and Vaskapu Street, will feature five residential towers, each 12-13 stories high, housing a total of 1,098 apartments. The ground and first floors of the buildings will offer 8,350 square meters of space for restaurants, shops, offices, and a two-story, 1,200-square-meter fitness complex. A two-level underground garage with a capacity for 1,747 cars is also planned. A large square with a “grand amphitheatre,” accessible via green steps and surrounded by shops and restaurants, will be created in front of the partly preserved old water tower.
Building of the new office and residential complex called City Pearl in 2022. Photo: MTVA/Bizományosi: Balaton József
The water tower, pavilion building at the entrance, and statues of bulls on either side of the gate will be restored. The water tower will be leased to the municipality for ten years, while the ground floor of the pavilion will house shops, cafes, and restaurants. The facades of the old slaughterhouse buildings will be rebuilt to resemble their original design, albeit using new materials, raising concerns about authenticity.
The environmental impact assessment application, submitted on 3 August, indicates that the green space ratio will be 15% in the new phases, an improvement over the 8.5% in the first two phases. Construction of the third phase is set to begin next spring, with subsequent phases starting in 2027, 2030, and 2031, and the entire project is expected to be completed by February 2034. During construction, an additional 84 trucks per day are anticipated, and once completed, the development is expected to generate nearly 5,000 additional car trips daily, representing a significant increase in local traffic.
Little to no effect on the environment?
The new district will accommodate approximately 4,000 new residents, several hundred employees, and numerous shoppers and visitors to the commercial and dining establishments. However, the documentation claims that the development will have minimal environmental impact.
Traffic-related air pollution is expected to increase slightly but remain below health thresholds in residential areas, and noise levels will not be perceptibly higher. According to the documents, the climate adaptability of the area will not change significantly, despite the installation of numerous split air conditioning units. Since there are currently no plants on the site, the project will not affect natural values.
The authors of the document conclude that the low environmental impacts will exclude any negative health effects, suggesting that obtaining the necessary permits should face no obstacles.
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1 Comment
The Real Person!
The Real Person!
The BIG factual picture of the Hungarian Economy – the STATE it is in and TRENDING to lower cataclysmic level.
We build on and on.
WHO will come ?
WHO will be the BUYERS ?
They won’t be from the West.
We build on that is ALREADY – has been for the greater part in time post February 2020 arrival of the Corona Virus, adding to the gargantuan number of SELLERS over the, in proportion MINUSCULE number of BUYERS.
Carnage continues on-going if Truth & Facts – came out of the Real Estate / Property & “rental” Profession.
It’s a Blood Bath – in this profession let TRUTH be SPOKEN.
It WORSENS builds in what will be a HORRENDOUS scene, when the COLLAPSE happens.
We build on with an “ageing” population.
We build on with a population of NO increase – the on-going TREND of the 15 years of the Orban – Fidesz Government.
We build on with the highest Interest rates of a European Union Country.
We build on with a Currency that “nears” a collapse, displaying it’s worth, it’s Value as SHRINKING.
We build on with our Economy is CHOAS.
Hungary – in our MILLIONS, and as a COUNTRY – the “Vesuvius” explosion that WILL happen sooner than later in the Real Estate Property & “rental” Profession – will Hurt & HARM us.
NO – the Hotel Profession – we build on and on that is a SATURATED environment for the tourist numbers that presently visit Budapest, Hungary.
We build on that the question has to be ASKED :
“Who is going to SLEEP in ALL the beds ?
WHO will come – in the NUMBER to FILL all these Beds ?
Westerners won’t FILL them, as Hungary “stares” at a capitulation, in addition to – the growing in STRENGTH possibility of a political environment that EXPLODES in a destabilisation process.
WHO will sleep in ALL these Beds ?
We build on.