All the necessary agreements have been signed between Hungary and the United Arab Emirates on Budapest’s Rákosrendező (as called mini-Dubai) development project and the sides are to extend cooperation to new areas, the foreign minister said in London on Tuesday.
The foreign ministry cited Péter Szijjártó as saying before traveling to the UAE that the two countries were expected to soon see “a breakthrough” in their bilateral ties as a result of the agreements, which will result in the creation of a highly new modern city area in the current underdeveloped Rákosrendező area of Budapest.
“The necessary agreements have been finalised and cooperation could now be extended to new areas,” Szijjártó said.
As we said yesterday, Budapest Mayor said that Orbán must tell the UAE partner that the shady mini-Dubai project is off the table, details HERE
He said the two countries would sign a defence industry cooperation agreement in Abu Dhabi because the UAE was making significant efforts towards innovation and the development of its defence industry. He added that progress was also being made in cooperation in the food industry. Hungary, Szijjártó noted, has become one of the main cheese exporters from Europe, with the total volume of cheese exports expected to reach 1,000 tonnes this year.
“There are also great propsects in digital developments. Thanks to this, a digital cluster comprised of 16 Hungarian companies has been established in the Gulf area and a Hungarian company is already providing cashless payment services in large music and cultural festivals,” he said. He added that strategic cooperation was also being developed in the area of energy, with Mol and MVM having started strategic talks with local partners about cooperation in renewable and fossil energy.
This year’s Sziget festival held from August 6 to 11 will feature American rapper ASAP Rocky, the uncrowned king of rap, trap and R and B, Post Malone, Grammy-nominated Canadian singer-songwriter Shawn Mendes, Caribou and K-pop girl band Kiss of Life, as well as a new wave Hungarian hip-hop, Co Lee, and the defining band of the alternative scene, Elefant, the organisers said on Tuesday.
Sziget festival 2025: new artists, lineup
Among the local acts, Co Lee, one of the most prominent artists of new wave Hungarian hip-hop, and Elefánt, a leading band on the alternative scene, are already confirmed to perform, the organisers said.
Among the newly announced international stars, American rapper ASAP Rocky (born Rakim Mayers) has been a huge success and has dominated the music industry for a decade and a half. To date, he has amassed more than 17.5 billion streams and his music videos have surpassed 3.9 billion views on YouTube. His latest singles, Highjack and Ruby Rosary, will be featured on his forthcoming fourth studio album, Don’t Be Dumb. A few months ago, he released his Grammy-nominated music video for Tailor Swift.
Also from overseas, singer-songwriter Post Malone is the uncrowned king of rap, trap and R&B. He is known for hits such as Rockstar, Circles, I Had Some Help and White Iverson.
Malone burst onto the scene in 2015 and, in his upwardly mobile career, has sold 60 million records and released six studio albums (the most recent in 2024) in various genres, including pop, country, rap, and hip-hop.
Seven years ago, Grammy-nominated Canadian singer-songwriter Shawn Mendes, a global star, performed a sold-out concert on the Sziget. The singer recently released his fifth album, Shawn, which draws on his travels and experiences over the past few years following the cancellation of his 2022 tour.
Canadian composer and performer Caribou (Dan Snaith) is coming to this year’s Sziget with his new album Honey, and K-pop will debut on the Sziget this year with Korean girl group Kiss of Life. The latter was formed in 2023 and filmed the music video of its first mini-album in Budapest. Also performing on Sziget will be Swedish hardcore punk band Refused, formed in 1991, who last year re-released their 1998 hit album The Shape of Punk to Come. The band reportedly goes on a farewell tour this year, including the Sziget concert.
Coming are Ahadadream, a tastemaker on the UK club scene; New Zealand alt-pop duo Balu Brigada; Call Me Karizma, a singer-songwriter-rapper who straddles the hip-hop and punk genres; and Tokyo, Japan-based metalcore band Hanabie, formed in 2015. The elusive, timeless music of Roberto Carlos Lange, who goes by the name Helado Negro, caught the music world’s attention with his 2019 album This Is How You Smile, and he’s playing at the Sziget Festival this year. He’ll be joined by Hermanos Gutiérrez, who released a new album last year full of Latin mysticism and otherworldly guitar playing.
Also coming is S10, aka Stien den Hollander, the Dutch singer, rapper, and songwriter whose Ik Haat hem voor Jou was last year’s song of the year in the Netherlands and who will soon release a new album. Maryland-based singer-songwriter Isabel LaRosa will perform her hits about growing up, attraction and heartbreak, alternative punk-rap duo Joey Valence & Brae, Hedex b2b Bou duo will play, and popular German DJ, singer and songwriter horsegiirL, who often wears a horse-head mask, will also be there.
The organisers have previously announced that this year’s Sziget will also feature Nelly Furtado, Papa Roach, Motherma, Chappell Roan, Charli XCX, Blessed Madonna, Armin van Buuren, Boris Brejcha, Kneecap, Justine, Blossoms and Zaho de Sagazan, among others.g others.
Undoubtedly, Budapest stands as one of Europe’s most enchanting capitals, brimming with history, culture, and charm. While 24 hours in Budapest might feel like a fleeting visit, it’s enough to experience the essence of this mesmerising city. From iconic landmarks to mouth-watering Hungarian delicacies, we’ve crafted a handy itinerary to help you savour every moment. While travel itineraries aren’t a one-size-fits-all, hopefully, you can get some inspiration from our article. Here’s how to make the most of your whirlwind adventure in the Hungarian capital.
Stunning views and amazing architecture
If you only have 24 hours in Budapest, you cannot miss out on the best views of the city and historical sites. For instance, you can begin your day exploring the historic Buda Castle a UNESCO World Heritage Site offering stunning city views. Stroll through the cobblestone streets of the Castle District and visit the Matthias Church, known for its vibrant tiled roof and Gothic splendour. Don’t miss the Fisherman’s Bastion, where you’ll enjoy panoramic views of the iconic Parliament Building and the Danube River.
Admire the Danube
Did you know that the Danube is Europe’s second-longest river? It stretches for approximately 2,850 kilometres (1,770 miles), making it the second-longest river in Europe after the Volga. The Danube flows through 10 countries, more than any other river in the world, including Germany, Austria, Slovakia, Hungary, and Romania.
If you only have 24 hours in Budapest, a really fun way to explore the city is through a Danube River cruise. Whether it’s a daytime excursion or an evening ride with the city lights sparkling around you, this is an unforgettable way to see landmarks like the Chain Bridge, the Gellért Hill, and the Parliament Building from a unique perspective. However, if river cruises aren’t your cup of tea, you can just walk along the riverbanks of the Danube.
Explore the city and the local cuisine
In the afternoon, take a leisurely walk down Andrássy Avenue, a grand boulevard lined with elegant buildings, luxury shops, and cafés. Visit the magnificent St. Stephen’s Basilica, where you can climb to the dome for a breathtaking view of the city. 24 hours in Budapest cannot pass without a tasty meal. Wrap up the day with dinner at a local restaurant, savouring classic Hungarian dishes like goulash or stew. If you have a sweet tooth, you should not miss out on the iconic chimney cake! In addition, you can try pálinka, Hungary’s national drink. But beware, it’s not for the faint-hearted…
Relax and take it easy
If you’re spending 24 hours in Budapest, taking time to relax is essential to truly experience the city’s charm. Budapest is renowned for its thermal baths, with the Széchenyi Thermal Bath and Gellért Spa offering the perfect escape to unwind in warm, mineral-rich waters.
Stroll through tranquil parks like Margaret Island, where the peaceful atmosphere provides a break from the bustling streets. Whether you’re sipping coffee at a cosy café or enjoying a leisurely Danube River cruise, relaxation in Budapest feels like a journey into the heart of Hungarian culture.
The Citadel on Gellért Hill in Budapest is in the final stages of renovation and will reopen its doors to the public.
The restoration of the Citadel is nearing completion, as indicated by the start of the planting of new vegetation. The inner courtyard of the fortress will be transformed into a park of 6,000 square metres, where fifty-nine ornamental trees and shrubs will be planted.
The Citadel’s green space will increase by one and a half times
The National Hauszmann Programme has announced on its Facebook page that the final stage of the Citadel’s restoration, the landscaping of the Citadel, has begun. The next steps include the planting of almonds, ornamental cherries, ornamental apples, Judas trees and magnolias, as well as dendrological rarities such as grey maples and Persian witch hazel.
Most of the trees are 20-year-old pre-grown specimens that can weigh up to three hundred kilograms. They have a terrestrial soil ball, so they could only be lifted to their final position by a crane. The trees can also be planted in the snowy winter period, when the plant is dormant and has time to prepare for spring budding. In addition to the new planting, the gardeners are also looking after the old pomegranate tree at Citadel.
Roses, lavender, runners and vines will be planted around the woody shrubs in the inner courtyard, the walkway around the fortress and the Castle Hill. As the experts of the National Hauszmann Programme have written, the plants were selected with the main aim of providing an aesthetic view in the four seasons. Species were chosen that are richly flowered in spring and summer and have interesting stems and fruits in the post-deciduous season.
The Citadel’s park is designed with sustainability in mind, budapest.hu reports. An irrigation system will be installed throughout the entire area, with water supplied by a dedicated rainwater storage tank. The flat roofs will be converted into green roofs and drought-tolerant plant beds will be placed in the areas highly exposed to the sun.
The interior of the fortress and the surrounding walkways will offer visitors spectacular features such as carefully mown lawns and colourful flowerbeds, which will blend harmoniously with the historic setting of the Citadel. By the end of the works, the green area is expected to have increased by one and a half times to 20,000 square metres.
It’s not just vegetation that’s being renewed
The regeneration of the Citadel is not just about green spaces, but also about expanding community spaces and creating new attractions. The inner public park between the fortress walls will feature a café, an ice-cream parlour and a gift shop, making it a convenient place to relax and recharge.
One of the most exciting developments is the opening of an exhibition in the cannon tower entitled “The Bastion of Freedom”, which will tell the story of the Hungarian struggle for freedom. The exhibition will commemorate Hungary’s historic turning points in a unique way and is a fitting tribute to the heroes of the past.
One of the Citadel’s most iconic features, the Statue of Liberty, will also be renewed, Helló Magyar writes. The terrace around the statue will be given a new look, offering even more impressive views of the city. The new terrace is part of an effort to enhance the Citadel’s historical importance and its tourist appeal.
Visitors will be able to walk inside the Citadel walls and enjoy the openness of the renewed north and south gates, which will make the fortress even more accessible. The improvements are expected to be completed by early 2026.
As we wrote earlier, Hungary’s largest national flag dominates Budapest from the Citadel! – details, PHOTOS
Budapest needs affordable suburban homes built “in a transparent way” in the city’s Rákosrendező development area, Gergely Karácsony, the city’s mayor, said in response to a statement by a government official on Monday. Prime Minister Viktor Orbán is going to the Emirates soon, the mayor said in a message about “mini-Dubai”.
Botond Sára, the head of the government office, said in a video posted on social media that the Budapest assembly “is facing perhaps the biggest decisions of its life”. “The councillors are set to decide whether to prevent the construction of apartments and jobs or support a development project which will yield money that could be used for developing the city’s public transport system developments and keeping the city clean,” said Sára.
Karácsony said in response that “it is becoming clearer and clearer that this is not a large-scale development project but a ‘back-door deal’ of the government,” adding that the project which he dubbed “mini Dubai” was aimed at building luxury apartments for foreigners rather than affordable housing for locals. The mayor said the metropolitan council wanted to ensure affordable housing with plenty of green spaces in the Rákosrendező area, “with the involvement of investors … in a transparent way, not in back-door dealings with Arab billionaires, but in competition, serving our sovereignty and Budapest residents.”
Orbán’s upcoming visit to the United Arab Emirates
The Rákosrendező brownfield area is in north-eastern Budapest’s 14th district, which is subject to conflicting development plans by the government and the municipality, Concerning Prime Minister Viktor Orban’s upcoming visit to the United Arab Emirates, Karácsony said
“if the prime minister represents Hungary … he will be obliged to tell his business partners that the shady mini-Dubai project is off the table.”
He said the “scandalous” purchase agreement of the project site and the prime minister’s visit were just a few days apart, adding “but this is mere coincidence, what else could it be?” Karácsony pledged to “preserve Budapest’s sovereignty and its gold reserves” and he suggested that “the prime minister could inform his business partners and watch the city council’s Wednesday meeting online”. Karácsony has said that Budapest enjoys pre-emption rights over the entire Rákosrendező area, insisting that the legal situation was “clear and unequivocal”.
Mini-Dubai issue, key news in chronological order:
Later on Monday, Karácsony said the state had sent the capital’s Budapesti Közművek company a call to exercise its right of pre-emption for the entire Rákosrendező area. In a Facebook post, he said the “smart-aleck” government had been “talking nonsense in recent days” regarding the pre-emption rights are whether they existed or not.
“We will exercise our right of pre-emption, and Rákosrendező will become Park City instead of a mini-Dubai,” he added.
The symphonic concert of the Hungarian State Opera Orchestra on 2 February 2025 offers a selection from the finest English musical traditions and delights for film (music) enthusiasts. In addition to Holst’s grandiose The Planets, the programme includes Elgar’s Cello Concerto, and Britten’s Variations and Fugue on a Theme of Purcell.
The concert, part of the OPERA’s Anglophone Season, is conducted by David Coleman, who has also composed a festive overture titled Celebremus for the occasion. The soloist of the concerts is the internationally renowned cellist Santiago Cañón-Valencia.
Gustav Holst (1874–1934) composed his seven-movement, grand orchestral suite The Planets during World War I, inspired by his fascination with astrology. The nearly hour-long piece associates a variety of atmospheric portraits with the planets of the solar system, based on their astrological characteristics and the traits of their Roman deity namesakes. It journeys from Mars, the bringer of war, and Venus, the bringer of peace, to Mercury, the winged messenger, while Jupiter embodies joy, Saturn represents old age, Uranus the magician, and Neptune the mystic. This monumental work, written for a large orchestra and incorporating a women’s chorus in the final movement, has enjoyed immense popularity since its 1918 premiere.
The solemn melody in the middle of the Jupiter movement gave rise to the British patriotic hymn I Vow to Thee, My Country, which remains a favoured piece in World War I commemorations and ceremonies associated with the British royal family. The foreboding, menacing Mars movement is also notably popular, inspiring numerous adaptations across various genres of popular music and leaving its mark on many film scores, from John Williams’ Star Wars to Hans Zimmer’s Gladiator. Similarly, Jerry Goldsmith’s score for Alien shows parallels with the main theme of the Saturn movement.
Cello Concerto that is to be performed before the intermission is nearly contemporaneous with The Planets. However, the 1919 premiere of Edward Elgar‘s (1857–1934) late masterpiece was overshadowed by misfortune. It took more than four decades and the brilliance of the young cellist Jacqueline du Pré for the work to claim its rightful place as one of the pinnacles of Elgar’s oeuvre and as one of the most frequently performed cello concertos in the international classical music repertoire. Renowned artists such as Yo-Yo Ma, Steven Isserlis, István Várdai, and Sol Gabetta have recorded the nearly half-hour, four-movement piece.
At the Hungarian State Opera, it can be enjoyed in the interpretation of an equally talented young Colombian soloist, Santiago Cañón-Valencia, who has achieved outstanding results in numerous prestigious music competitions and was featured on the exclusive seven-artist BBC New Generation list between 2022 and 2024. This concerto may also be familiar to film enthusiasts: in the drama Tár starring Cate Blanchett, the titular conductor rehearses the concerto with British cellist Sophie Kauer. Additionally, a fragment of the piece is brought to life by a painting of Jenna Ortega’s character in the first season of the Wednesday, an Addams Family adaptation.
The concert will be introduced by two shorter yet equally captivating pieces. Benjamin Britten (1913–1976) composed Variations and Fugue on a Theme of Purcell in 1945 for a documentary film designed to showcase the instruments of the orchestra. Britten chose the second, rondo movement of Henry Purcell’s 1695 Abdelazer Suite as the basis for the variations in this 15-minute work. Following the majestic orchestral presentation of the main theme, the different sections of the orchestra perform 13 playful variations, culminating in an original fugue by Britten. This popular piece, sometimes performed with narration, may be familiar to audiences from the opening scene of Wes Anderson’s 2012 film Moonrise Kingdom. Additionally, the original Purcell theme can be heard in the ball scene of the 2005 film adaptation of Pride and Prejudice.
The piece to begin the concert is also a world premiere. The conductor of the concert, David Coleman, has been conducting orchestras of Europe’s top ballet companies for over four decades and has been working regularly with the Hungarian State Opera Orchestra since 2020. Also active as a composer, Coleman dedicated his Caleidoscopeto the OPERA Orchestra’s brass section in 2023, and a year later, his Dancing Percussion was premiered by the percussionists. Now, in honour of the OPERA’s Anglophone Season, he has written a five-minute overture for full orchestra and a women’s chorus. Titled Celebremus, the piece highlights the festive nature of the occasion by incorporating motifs from both the Hungarian and British national anthems, as well as elements from Britten’s composition, which follows the overture.
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11th Budapest International Documentary Festival kicks off with a tribute to real-life stories – PHOTOS + VIDEO
Budapest has pre-emption rights over the entire Rákosrendező area, Gergely Karácsony, the city’s mayor, said on Facebook on Sunday.
Regarding a browfield area in Budapest’s 14th district, which is subject to conflicting development plans by the government and the municipality, Karácsony said the legal situation was “clear and unequivocal”.
The seller, the Hungarian state, informed the buyers in the sale and purchase agreement that two Budapest-owned companies have pre-emption rights over the entire area, he said.
The purchase contract stipulates that the investor must pay the first installment of the purchase price within ten days of the Hungarian state presenting declarations waiving the right of pre-emption or the deadline for exercising pre-emption rights “has passed uneventfully”, he said. “That deadline won’t pass uneventfully,” Karácsony added.
The mayor said the current owner, the Hungarian state, “has allowed this especially valuable area to decay and be polluted for decades.”
He said it was time that development started according to “principles espoused by practically the entire profession of city development”, which he said had been strengthened by the latest decision of the Budapest assembly on the matter.
Mayor Karácsony backs Park City concept
“The Park City concept”, he said, promoted “affordable housing and a lot of green [areas] for many, rather than luxury for a few.”
Should the state violate the pre-emption rights of Budapest Kozmuvek (BKM), the Budapest utility company will immediately sue both the Hungarian seller and the UAE buyer, “the Arab billionaire”, Karácsony said.
BKM will pay for the area from the price of Budapesti Hulladekhasznosito, a waste management plant, he said. “We are prepared for attempts from the Hungarian government to circumvent our pre-emption rights,” and will use all legal remedies to prevent that, he said.
The Budapest Assembly will debate the proposal on the matter on Wednesday. He said councillors “will have to decide whether they are serving Budapest’s future or [giving in to] the government’s machinations”.
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The fascinating story of how Budapest got its iconic name – read more HERE
3 American presidents have a statue in Budapest – who will be next?
The vibrant city of Budapest, renowned for its stunning architecture and rich history, wasn’t always a unified metropolis. It emerged from the joining of three distinct settlements: Buda, Óbuda, and Pest. But what stories lie behind this historic union? In 1873, these three cities officially merged, and the name “Budapest” was chosen—a name that would soon resonate as the beating heart of Hungary.
Széchenyi’s vision
Interestingly, the idea of merging these twin cities had been proposed much earlier, in the 1830s. In 1831, István Széchenyi expressed his thoughts on the matter in his work Világ:
“The name of your capital should be changed to Budapest, which, in a few years or even months, would sound as familiar and natural as Bucharest. This union would bring the two cities together, which at present do not regard each other with the kindest eyes. What benefits would flow from this union, what a prosperous capital Hungary would have in a short time! Especially if the Diet were held not in Bratislava, so far from Transylvania and on the frontiers, but in the heart of the country… These cities should form one capital, not two; one, not divided and contradictory hearts.”
Count István Széchenyi, renowned for his contributions to Hungary—including the construction of the Chain Bridge—was a visionary who spoke several languages. He was dissatisfied with the name “Pest,” as it evoked the German words Pest and Peste (plague), as well as the Latin pestis. In an attempt to find a more harmonious name, he proposed several alternatives, including Bájkert, Dunagyöngye, Etelvár, and Hunvár.
Ultimately, Széchenyi advocated for Honderű. However, by the early 1840s, he abandoned this idea after it was pointed out that Honderű sounded uncomfortably similar to the French words honte (shame) and rues (streets), writes Miklós Szabolcsi in his work Honderű.
When the widely accepted name “Pest-Buda” was to be printed on maps, it became evident that the word Pest would fall on the Buda side of the Danube and Buda on the Pest side. This prompted a shift towards the more balanced name “Budapest” after the unification of Pest, Buda, Óbuda, and Margaret Island into a single capital.
Interestingly, the name “Budapest” appeared as early as 1846 in János Arany’s ninth canto of Toldi: “The city of Budapest is inhabited by many thousands.”
Why Buda and why Pest?
To trace the origins of these names, we must go back to Roman times. According to the Budapest Archives, Roman conquerors arrived in the area in the mid-2nd century BC. The Danube served as a natural border for the Roman province of Pannonia, where military camps were built at crossing points to defend the empire. Towns, such as Aquincum—located in present-day Óbuda—were established near these camps. By 103 AD, Aquincum had become the seat of Pannonia Inferior. Roman citizens built their stone houses and baths, enjoyed entertainment at the amphitheatre, and relied on the protection of the Roman army.
The origins of Buda
One theory suggests that Buda was named after the brother of Attila the Hun, who lived most of his life in the area and was revered for his contributions to the district. According to historical accounts, the name Buda was associated with a Roman settlement built on the site of Aquincum during the early Árpád era. This settlement only came to be known as Óbuda (Old Buda) after the Tatar invasion, when the Buda Castle, then called Újbuda (New Buda), was constructed.
Another explanation ties the name Buda to the area’s abundant thermal springs. The Latin word aqua (water) inspired the Roman name Aquincum. Similarly, the Slavic word voda (water) may have evolved into “Buda,” referencing the area’s rich natural springs.
Theories about the origin of the name Pest
From the mid-19th century onwards, an intriguing theory began to gain traction. Rómer Flóris, while studying the Roman fortifications along the Danube, hypothesised that there must have been a fortress in the area. He connected this to the 2nd-century geographer Ptolemy, who, in his Introduction to the Mapping of the Earth, mentioned a city named Jazy. Its geographical location was identified by the Romans with the site of Contra-Aquincum. The city’s name was recorded as Passion or Pesszion, but according to Lajos the Great, it had been altered by scribes from Pesztion—a name preserved by the Romans and later passed down to the conquering Hungarians.
The more widely accepted explanation, however, links the name to Gellért Hill on the Buda side of the Danube. In Slavic, pest means “cave” or “rock cavity,” and in Old Hungarian, the word pest referred to a furnace. Gellért Hill, home to a cave containing thermal springs, was thus referred to as “Pest Hill.” The settlement on the opposite side of the river subsequently inherited the name, as noted by Telex.
This fascinating “migration” of the name to the other side of the river is well-documented in early medieval sources. The German name for Buda, Ofen (Hungarian for “furnace”), shares a similar origin with the Slavic word pest, both meaning “cave” or “hollow” in the Southern German dialect. Interestingly, a pre-Tatar document refers to the settlement on the left bank of the river—modern-day Pest—as Ofen. However, over time, local Germans applied the name exclusively to the Buda Castle Hill.
You can read the Hungarian version of this article HERE.
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The earliest coins minted in Hungary were discovered only recently: here is their incredible story
The housing market in Hungary has surged in 2025, with significant price increases. The main drivers of this rise in demand are the release of pension savings and the decline in yields on the previously lucrative government bond market, which are encouraging more and more people to invest their money in property. This phenomenon has triggered a substantial boom, particularly in the market for one- and one-and-a-half-bedroom flats, where nearly all sales are taking place rapidly as prices escalate.
In contrast, competition is less intense for detached houses and larger apartments, providing buyers with the opportunity to monitor price developments more closely and negotiate if necessary. Despite government targets for affordable housing, the measures have had the opposite effect, and prices have continued to rise.
Investing or building a home?
According to Szeretlek Magyarország, an analysis of current trends in the housing market reveals two distinct groups of buyers: those looking to purchase their own home and those seeking investment opportunities. Investors are particularly attracted to 1–1.5-bedroom semi-detached houses, as these are easy to let, have low maintenance costs, and can be sold quickly if required. Bargaining in this market is virtually impossible.
Those in search of larger apartments or detached houses, on the other hand, may prefer to wait, as price increases in these types of properties are currently driven more by psychological than actual demand pressures.
Compared with recent years, government bond yields are no longer competitive with the potential returns offered by real estate. While rental yields from real estate may be lower on their own, when combined with capital appreciation, they now present a more attractive alternative. Consequently, real estate has become the preferred choice for investors.
However, it is important to note that the real estate market has already passed the point where buyers could acquire properties at significantly advantageous prices. Following the announcement of initial government measures, sellers reacted swiftly by raising prices, which have now stabilised at high levels and are unlikely to decrease substantially in the near future.
Regional differences in Hungary: Budapest and its surroundings
The housing market in the capital remains the most active in Hungary, with significant price disparities between districts. According to Világgazdaság, average prices per square metre exceeded HUF 1.3 million (EUR 3,171) in District V and District XII, while in District II, homebuyers spent an average of HUF 120 million (EUR 292,683) per property.
New developments and infrastructure investments, such as the Grand Budapest project, have had a significant impact on local prices, particularly in Zugló and Újbuda, where the value of second-hand properties has risen alongside new housing. The largest housing price increases, ranging from 18% to 20%, were observed in Újbuda’s property market, the most dynamic in the capital.
Less sought-after areas of the capital, such as Csepel and Soroksár, continue to offer more affordable prices. In Soroksár, the average price per square metre is HUF 571,000 (EUR 1,393), significantly lower than in the city centre, making it an attractive option for buyers on a lower budget.
The regulation of short-term housing has had a noticeable impact on the investor market. In District VI, where prices per square metre previously exceeded HUF 1 million (EUR 2,439), these regulations have reduced demand and moderated prices. This has created opportunities for those seeking property for owner occupation or long-term rental.
Experience shows that once prices reach a higher level, they are very unlikely to decline. Even during economic downturns, sellers often wait rather than lowering prices. Therefore, buyers may need to adjust to current prices, especially for smaller investment properties, where no significant changes are expected. To ensure a successful purchase, experts advise buyers to stay well-informed, view multiple properties, and carefully consider their options. Sellers, on the other hand, are encouraged to list their properties at realistic prices and take market feedback into account.
Gergely Karácsony, the opposition mayor of Budapest, shared photos of his February Belgrade visit showing him in front of some astonishingly high apartment buildings. He said nobody needed AI to picture how the Rákosrendező area would look if the Arab developers carried out their plans.
Mayor Karácsony committed to protect Budapest
Karácsony said that a similar project is nearly finished in Belgrade, and the result was terrible: an inhumane concrete horror. He added that the area on which the apartment buildings were built was one of the most valuable lands of the Serbian capital. He said he was committed not to let that for the Arab investor because “this is not Binjistan”.
Karácsony is irresponsible, says the Hungarian government
Gergely Karácsony, the mayor of Budapest, is putting the planned landmark real-estate Rákosrendezői development at risk, Botond Sára, the head of the government office for Budapest, on Saturday.
Sára said the proposed development was massive and complicated, given that an international treaty has been signed and a related law passed, and in light of the “huge commitments” made, Karácsony was acting “irresponsibly” and putting the investment at risk by blocking the project and running the capital “illegally”.
In a video uploaded to Facebook, Sára said the Budapest administration still lacked a deputy mayor and its 2025 budget was “illegal”, so it was no longer running the city on lawful foundations.
He insisted that the decision on the development required “common sense and calm”, adding that Karácsony should not take risks and “reconsider the matter”.
Budapest Fidesz: the project would create jobs, help housing, traffic developments
In a post on Facebook, Alexandra Szentkirályi, the head of the Fidesz group in the city assembly, accused Karácsony of acting in such a way as to deprive Budapesters of “thousands of new jobs and many thousands of new apartments”, as well as railway and metro developments.
Referring to “illegal rubbish dumps, mountains of hazardous waste and ruined and abandoned buildings” as well as “drug dens and homeless shelters”, she said the central government had launched the “biggest development in the history of the capital”, yet Karácsony was doing everything he could to prevent the project from going ahead.
She said the mayor was trying to distract attention away from “the fact that he and his allies have pushed Budapest into total bankruptcy”.
She said in the video posted on Friday that Karácsony’s administration would not purchase the area legally and the capital no longer had “the money to resolve this issue”.
The state should have “cleaned up” the brownfiled site
Meanwhile, Dávid Vitézy, the leader of the Podmaniczky Movement group in the city assembly, said the state should have “cleaned up” the brownfiled site of Rákosrendező but had failed to, while also neglecting to oblige “the [UAE] Arab investors” in the purchase contract to do so.
The opposition politician noted that the construction and transport minister, Janos Lazar, had promised to clean up the site using state money, given state railway MAV and the state had owned the area for many decades. “Nothing happened; they couldn’t even mount a tender to clean up the area,” he added.
He said the government’s main arguments in support of the investment were that the Arab buyer, who has agreed to invest five trillion forints (EUR 12.3bn), would clean it up. “But this isn’t so,” he said insisting that the investor was under no obligation in the purchase contract to do so.
The contract, he added, stated that the seller and the buyer would enter into a separate agreement regarding environmental damage and waste. But this did not oblige the Arab investor to undertake anything, he said, adding that the clean-up remain the burden of the state and taxpayers.
Read also:
Orbán Cabinet calculates at HUF 1,000/EUR for Rákosrendező’s Grand Budapest project?
János Lázár, Hungary’s Minister for Construction and Transport, recently claimed in a Facebook post that Budapest’s leadership could purchase the Rákosrendező area for HUF 5,000 billion (€12.25 billion). However, the Hungarian government’s contract with the United Arab Emirates regarding the Grand Budapest project includes an agreement to encourage an investment of EUR 5 billion. Moreover, this valuation is based on a highly dubious exchange rate: 1,000 forints per euro.
Orbán cabinet calculates at HUF 1,000/EUR concerning Rákosrendező?
Dávid Vitézy, a mayoral candidate from Prime Minister Viktor Orbán’s Fidesz party and a member of the Budapest Municipal Council, shared the figures on his Facebook page. Vitézy remarked that Lázár’s calculations appeared to assume an exchange rate of HUF 1,000 to the euro.
As previously reported, the leadership of Budapest opposes the Hungarian government’s agreement with the United Arab Emirates regarding the development of the Rákosrendező area. The deal permits the UAE to nominate one or more companies to construct buildings as high as 500 metres in the heart of the city. The Hungarian government has also pledged to implement substantial traffic and infrastructure developments in the area, stipulating that the UAE would pay the purchase price (€122 million for the 850,000-square-metre site near the city centre) only after these improvements are completed.
In return, the UAE is “encouraged” to carry out €5 billion in development on the site. Mayor Gergely Karácsony, however, announced this week that Budapest holds pre-emption rights to the territory and wishes to purchase it for €122 million, the same price the UAE is expected to pay.
The Hungarian government has disputed this claim, arguing that the UAE’s development plans justify a far higher valuation. According to the Orbán administration, Budapest would need to pay at least HUF 5,000 billion (€12.25 billion) to acquire the area—despite the UAE’s contractual obligation being a €5 billion development. For the government’s figures to make sense, the exchange rate would need to plummet to 1,000 forints per euro.
City development or loss of sovereignty?
Experts believe the forint will continue to weaken this year, as the government aims to maintain Hungary’s competitiveness. However, they predict an exchange rate of around 420 HUF/EUR. R. A rate of 500 HUF/EUR would be shocking for Hungarian society, let alone 1,000.
The Hungarian government contends that the Rákosrendező project represents a unique opportunity to attract capital to revitalise the derelict area. Officials argue that Budapest’s leadership has been incapable of improving the site, with piles of rubbish left untouched for years. From the government’s perspective, the UAE investment ensures renewal and progress.
On the other hand, opposition politicians, including Budapest’s leadership, accuse the Orbán government of sacrificing national sovereignty. They argue that the agreement hands a prime piece of Hungary’s capital to foreign investors, allowing luxury developments such as high-end apartments, office buildings, or even a “Trump Tower” (a controversial proposal previously reported HERE). The opposition insists that the land should be used to address Budapest’s urgent housing crisis rather than catering to speculative developments.
Here is what Budapest’s leaderhips wants: the Park City
A 500-metre-high skyscraper near downtown?
One of the most contentious aspects of the project is the possibility of constructing a 500-metre-high skyscraper near Budapest’s city centre. Dávid Vitézy highlighted this provision, noting that the government’s contract with the UAE explicitly permits such construction. Critics argue that such a structure would irrevocably alter the skyline of Budapest, which is currently dominated by historic architecture. Even János Lázár has voiced reservations about the proposal.
Although the government technically retains veto power over the UAE’s plans, the contract obliges it to remove all legal or bureaucratic obstacles to the development. Should these obstacles not be resolved, the UAE is not required to pay the purchase price.
Read also:
Devastating explosion in downtown Budapest, multiple injuries, 40 firefighters against the flames – read more HERE
Budapest is one of Europe’s most stunning capitals, where natural beauty, cultural heritage, and architectural masterpieces combine in perfect harmony. The city has been renewed countless times throughout its history while preserving its iconic landmarks.
Travellers of centuries past discovered the same charms we enjoy today, although the passage of time and the storms of history have brought many changes. Let’s take a closer look at some of Budapest’s best-known landmarks that have defied time for generations.
The Hungarian Parliament: The symbol of history and sovereignty
According to Travelo, the Parliament is the most famous building not only in Budapest but in Hungary. Built between 1885 and 1904, this neo-Gothic structure is awe-inspiring due to its sheer scale and detailed decoration. The 96-metre-high building is a symbol of the country’s history and sovereignty and was constructed almost entirely from local materials. It is an important landmark on the Danube and has been a UNESCO World Heritage Site since 1987.
St Stephen’s Basilica: A symbol of faith and art
St Stephen’s Basilica took decades to build and was completed in 1906. The neo-Renaissance church is one of the capital’s most important religious buildings, serving as both a symbol of Christian faith and an architectural masterpiece. At 96 metres high, the basilica is one of the tallest buildings in Budapest, along with the Parliament. The interior is richly decorated and continues to play an active role in the cultural life of the city, hosting renowned musical events.
Source: Fortepan / Budapest Főváros Levéltára / Klösz György fényképeiSt. Stephen’s Basilica in Budapest, Hungary. Source: depositphotos.com
Elisabeth Bridge: The rebirth of an emblematic crossing
The history of Elisabeth Bridge dates back to the early 20th century when the first steel-framed chain bridge was built. Named after Queen Elizabeth, who was assassinated in 1898, it was one of Budapest’s most important bridges until 1945, when it was destroyed during the Second World War.
A modern cable-stayed bridge, ten metres wider than its predecessor, was built in its place in 1964. The new Elisabeth Bridge remains a dominant feature of the cityscape, although tram traffic has been suspended since the 1970s. The crossing is iconic not only for its functionality but also for its aesthetic value. In 1987, along with other historical attractions on this list, Elisabeth Bridge was added to the UNESCO World Heritage Site list.
The old Elisabeth Bridge. Photo: Fortepan/Deutsche Fotothek/Brüch und SohnElisabeth Bridge Source: Wikimedia Commons / Norbert Aepli, Switzerland
The Gellért Hotel, on the right bank of the Danube, opened in 1918 and became one of the jewels of Art Nouveau architecture. The vicissitudes of the First World War did not prevent it from quickly becoming one of Budapest’s most famous luxury hotels. The building was later extended, and the restaurant, run by the renowned Károly Gundel, further enhanced its reputation. Over the years, it has witnessed many significant events, and although it was renovated in 2021, it remains one of the capital’s most iconic venues. The Gellért Hotel is also part of the UNESCO World Heritage Site list.
Source: Fortepan / Bauer SándorSource: Facebook / Danubius Hotel Gellért
The Wenckheim Palace: From a centre of social life to a cultural centre
Located in the heart of the palace district in Budapest’s 8th district, Wenckheim Palace was originally the lavish residence of the noble Wenckheim family. The elegant neo-Renaissance building, constructed in 1886, was a popular venue for balls and social events of the time. The building was sold by the heirs to the capital in 1927 and opened in 1931 as the central building of the Szabó Ervin Library. The palace remains a jewel of Budapest’s cultural life, a place where past and present meet.
Source: Fortepan / Budapest Főváros Levéltára / Klösz György fényképeiSource: Wikipedia
The Buda Castle Tunnel: An engineering feat across the hill
The Buda Castle Tunnel connects the Buda end of the Széchenyi Chain Bridge with the town of Krisztinaváros and has been part of Budapest’s transport system since its completion in 1857. The 350-metre-long tunnel was designed by Adam Clark, who was also involved in the design of the Chain Bridge. Constructing the tunnel was not only a technical challenge but also an expensive undertaking, costing a total of 524,000 HUF. Today, it remains one of the city’s most important thoroughfares, a work of historic engineering that commands respect. Like the Hungarian Parliament, Elisabeth Bridge, and the Gellért Hotel, the Buda Castle Tunnel is listed as a UNESCO World Heritage Site.
Budapest’s landmarks are not only architectural masterpieces but also living witnesses to the city’s history. Despite the devastation of the Second World War and the events of 1956, the city has managed to retain its character and now welcomes visitors in a renewed form. These iconic sites remind not only tourists but also locals that Budapest can always renew itself while remaining true to its historical roots.
A powerful explosion tore through a residential building in central Budapest this afternoon, igniting a fire that caused significant damage and left three people injured. Emergency services, including more than 40 firefighters and 15 fire engines, responded to the scene as flames threatened to engulf additional apartments.
Explosion and fire in Budapest downtown apartment bloc
According to the Budapest Directorate General for Disaster Management, the explosion occurred at a four-storey apartment building located at the corner of Ipar and Vaskapu streets. The incident originated in a first-floor flat, with the subsequent blaze spreading rapidly to neighbouring apartments and the building’s façade, Infóstart reported.
Photo: MTI
Firefighters deployed six water jets – three inside the apartment and three targeting the exterior – to bring the flames under control. However, large piles of debris in and around the building significantly hampered their efforts.
Photo: MTI
Following a devastating explosion in a central Budapest apartment building, more than 40 firefighters arrived at the scene with 15 vehicles to tackle the flames. Their efforts were supported by specialists from the Danube Disaster Management Authority. Firefighters inspected the upper floors of the building and escorted a man safely from his fourth-floor flat to the ground floor.
Photo: MTI
Three people were injured, one taken to hospital
Authorities confirmed that three individuals were injured in the incident. Two received immediate treatment at the scene, while a third was transported to hospital with head injuries.
Photo: MTIPhoto: MTI
According to Krisztina Baranyi, the mayor of the 9th district (Ferencváros), all residents were required to leave their apartments, and firefighters had not yet finished their work. The fire affected multiple apartments. She added that three people were lightly injured: two received immediate care on the spot, while the third person was taken to the hospital with head injuries.
Mayor Baranyiadded that water and electricity services in the building would remain out of action for at least a week. She reassured residents that the local government was ready to provide temporary accommodation for anyone in need.
UPDATE: Authorities shared the reason of the explosion
According to Blikk, the Hungarian authorities established the cause of the brutal explosion in Budapest’s downtown. They said a gas-fired boiler blew up in one of the apartments. The police said that the firefighters extinguished the fire by Friday evening. They added that residents could return to their apartments to pack and take all their necessary belongings, but then they had to leave the building.
UPDATE 2: 6 apartment uninhabitable
Based on 24.hu, six apartments became uninhabitable partly because of the fire and partly because of the fire extinguishing work. Currently, the building is being examined by a structural engineer. There is no news when residents can move back to their apartments.
Here is a drone video of the fire extinguishing process:
The National Hauszmann Programme has reached a new milestone with the completion of plans for the renewed Hunyadi Court. This step in the Buda Castle Palace’s revitalisation restores historic elements while enhancing functionality.
The National Hauszmann Programme
The National Hauszmann Programme is a Hungarian government initiative focused on the restoration, redevelopment, and modernisation of the historic Buda Castle District in Budapest, Hungary. Launched in 2019, the programme is named after Alajos Hauszmann, a renowned 19th-century Hungarian architect who played a key role in shaping the architectural character of the Buda Castle area.
New milestone
The National Hauszmann Programme has recently shared on its Facebook page that the programme has reached a new milestone. The visual plans for the renewed Hunyadi Court have been completed as part of the National Hauszmann Programme, marking another step in the ambitious rebirth of the Buda Castle Palace. The court will be redesigned to align with its historic surroundings, incorporating elements of Alajos Hauszmann’s architectural vision. A key aspect of the project involves restoring the original level of Szent György Street, which leads to the court, and widening the street for improved accessibility.
Photo: Facebook / Nemzeti Hauszmann Program
Greenery and timeless aesthetic
As part of the restoration, the court will feature period-specific details such as paving stones, granite elements and benches, all contributing to the area’s timeless aesthetic. The National Hauszmann Programme also places great importance on preserving and enhancing greenery within the court. Flower beds with irrigation systems and trees will complement the renewed design, blending natural beauty with architectural heritage. This thoughtful attention to detail underscores the programme’s commitment to reviving the grandeur of the Buda Castle District while ensuring it remains a vibrant and welcoming space for visitors.
Photo: Facebook / Nemzeti Hauszmann Program
Original levels and pathways
The eastern route of the renewed court will see the restoration of the original Hauszmann square level, three metres higher than its current state. On the western side, the Hunyadi Court will remain accessible at its present level to maintain openness, as the former stable building will not be reconstructed.
Photo: Facebook / Nemzeti Hauszmann Program
A limestone retaining wall will divide the two paths, merging gracefully in front of the Guardhouse. The upper path will lead towards the Matthias Fountain, while the lower path will guide visitors to the Lion Gate. These careful adjustments will ensure the area remains historically accurate while enhancing functionality.
Donald Trump could make a rare appearance in Central Europe, potentially boosting Viktor Orbán’s chances in Hungary’s 2026 elections. The former US president might visit the region either to mediate peace between Ukraine and Russia or to strengthen ties with his new political ally, Italy’s Prime Minister Giorgia Meloni. Both Budapest and Bratislava (Pozsony) have expressed interest in hosting peace talks, though it seems implausible such negotiations would occur in a NATO country. Vienna appears a more likely candidate.
The Hungarian government is eager to host Trump in Budapest, but insiders suggest this would only be realistic ahead of Hungary’s 2026 general election.
Orbán and Trump: An unlikely bromance
Prime Minister Viktor Orbán has been one of Trump’s longest-standing international supporters, endorsing him in 2015, long before Trump became the Republican Party’s official nominee. Over the past few years, the Hungarian government has poured significant resources into cultivating its relationship with Trump and his allies. We covered what we know about it in THIS article. After Trump’s election victory, the relationship seemed to bear fruit: the former president reportedly called Orbán on 6 November to discuss efforts to end the war in Ukraine.
Orbán proudly reported that Trump called him on 6 November:
However, the Orbán-Trump alliance is not without its tensions. Despite Orbán’s repeated assurances to his supporters that Trump’s presidency would swiftly end the conflict in Ukraine and lift what he described as “harmful” sanctions, Trump has suggested harsher penalties against Russia if the war continues. This divergence has raised questions about the practical limits of their political alignment.
A meeting in Budapest: not a simple task
Despite Orbán’s well-publicised ties to Trump, arranging a visit to Budapest is proving challenging. While the Hungarian government has already offered the capital as a venue for peace talks, this proposal remains unlikely. We wrote HERE about a Russian senator who thought it was a good idea. Hosting a meeting between Russia and the United States in a NATO member state is viewed as implausible; Vienna, or even non-NATO countries like Türkiye or Qatar, seems a far more feasible option.
According to Szabolcs Panyi, writing in the latest VSquare newsletter, Trump is indeed planning a European trip but is more likely to visit Meloni in Italy, with possible stops in Paris and Berlin depending on Germany’s upcoming elections. However, Türkiye or Qatar is also likely for a Trump-Putin meeting. Budapest, it seems, is lower on the agenda.
A Hungarian fan of Orbán and Trump. Photo: Facebook/Viktor Orbán
When Trump may come to Budapest: Orbán’s White House hopes and the 2026 CPAC
Panyi wrote that “the Hungarian government is determined to lobby for Budapest’s inclusion in any European tour but has come to realise that securing a White House visit for Viktor Orbán may be more plausible.” Interestingly, Orbán did not attend Trump’s inauguration on 20 January. Instead, he spoke at a conference about Hungary’s achievements during its presidency of the Council of the European Union. Later, government communications stated that the inauguration is a ceremonial event where serious negotiations are unlikely. This, they explained, is why Orbán did not travel to Washington on 20 January.
Donald Trump Jr. in Budapest. Photo: MTI
However, Mr Panyi mentioned an event organised in Budapest that could provide an opportunity for Orbán to invite the president. Budapest has been hosting the annual CPAC events, a gathering of Trump-supporting Republicans, for years. As a result, it’s possible that Trump could attend the 2026 Budapest CPAC, an event scheduled ahead of the general elections that year. Hungarian media have previously reported that organising a CPAC is costly, making it unaffordable for many countries.
Orbán is likely to face his toughest challenge next April or May from Péter Magyar, the ex-husband of former Justice Minister Judit Varga, who is already leading in the polls. Opposition leadership in the polls has not occurred in Hungary for almost two decades. Therefore, the American president’s presence in Budapest during the final weeks before the election could prove crucial for Orbán, who is seen by his opponents as a pariah in international politics.
Meanwhile, Orbán may visit Trump at the White House, and Trump’s vice president, JD Vance, could make a trip to Hungary.
Read also:
VSquare: Trump Tower can be built in Budapest! – read more HERE
Unprecedented: Trump asks for PM Orbán’s advice on how to end the war in Ukraine ASAP
Another milestone has been reached for the 130-year-old New York Café, the world’s most beautiful coffee house. The iconic establishment on Erzsébet körút will be open nightly from 1 March, after a test run, and will offer a nightly menu: from Thursday to Sunday, from midnight, they want to give more people the chance to enjoy Budapest’s iconic café.
The night-time opening will allow guests to avoid long waits and enjoy the magic of the café in a relaxed and exclusive atmosphere. The test run during the festive period was announced at the 130th anniversary event of the World’s Greatest Café, adding that if the public responds positively to their ideas, night opening will become a regular feature from March onwards, in line with demand. The trial period has provided the answers to the questions raised, with guests happy to take up tables in the café after midnight.
New York Café at night. Source: eventrend.hu
Csaba Szabó, general manager of New York Café and Eventrend Group partner, said: “Experience has shown that the night-time visit to New York was linked to the active evening programme, with the café being full mainly on Thursdays, Fridays, Saturdays and Sundays. Guests preferred drinks rather than coffee, with so-called “snack” accompaniments, but were also keen on pastries. So the night menu will be more of a drinks and cold food menu.
Music is also an indispensable part of the atmosphere, this time the lounge, chill out atmosphere was tried, but also a bit more rhythmic music was played, the audience opted for the latter. Accordingly, a bar pianist will be entertaining the audience during the night opening hours, playing faster-paced, enjoyable hits.
Source: eventrend.hu
The café will have decorative lighting to match the night-time atmosphere and the life-size figure of El Asmoday, the torch-bearing demon on the façade, will be moved in to be a favourite subject for photographs. Special selfie spots will also be designated, providing the perfect setting for memorable photos.
The legendary anecdote goes that when Ferenc Molnár opened the café, he wished the place would never close, so he threw the keys into the Danube. Now, 130 years later, this dream is once again being fulfilled with the opening of the café at night. Last November, the café celebrated its 130th anniversary with a special new mini-cake: guests can also ask for a creation made from a combination of apricot and chocolate flavours.
Source: eventrend.hu
New York serves between 2,500 and 3,000 guests a day, which translates to over 1 million guests a year. This unprecedented challenge requires a huge amount of organisation. The team at CER Ltd, part of the Eventrend Group, which operates the New York Café, is committed to carrying out this proud task with the utmost professionalism.
Photo: FB/NYC
The Eventrend Group has over three decades of experience in the operation of cafés, restaurants, hotels and event management. The group currently has 31 projects, employing around 1100 people. The Eventrend Group is involved in the catering services of around 20 gastronomic businesses, including Gundel Restaurant, New York Café, Central Café, Spoon the boat, Hauptőrség Café, Városliget Café, Séf Asztala, Symbol, Groupama Arena and Müpa Budapest, as well as the sale of 79 individual event rooms in 24 Budapest venues. The group’s net turnover reached HUF 25 billion in 2024.
Photo: FB/NYC
Read also:
Legendary stories about the world-famous New York Café – read more HERE
Iconic New York Café in Budapest to launch exclusive nighttime opening hours
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:
Photo: FB/Vitézy
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.
Europe’s tallest skyscraper?
According to VSquare, the government’s ambition is to build Europe’s tallest skyscraper in Budapest, surpassing even London’s Shard. Rumours suggest that Jared Kushner and Eagle Hills could aim to replicate the grandeur of Trump Tower.
Panyi has noted that the contract with the UAE was signed on 20 January, the anniversary of Trump’s presidential inauguration. His sources allege that Jared Kushner is expected to join the project in a later phase, though rumours about his involvement have circulated for months. Panyi has now confirmed these claims in his latest report.
The new vision for Rákosrendező? Reports suggest that the Hungarian government has granted permission for the investor to construct buildings for religious purposes, fueling speculation about the potential addition of a mosque alongside Trump Tower-style skyscrapers at the Rákosrendező site.
Kushner and the Arab investor are collaborating on a project in Serbia
This would not be Kushner’s first joint venture with Eagle Hills. On 17 January, they announced plans for a Trump Hotel and luxury apartments in Belgrade. Kushner expressed optimism about pursuing further projects with Eagle Hills in Serbia.
Interestingly, one day after this announcement, PM Orbán made an urgent trip to Belgrade to meet Serbian President Aleksandar Vučić. Official statements indicated the discussions were centred on energy matters, but sources close to Panyi claim Orbán also provided Vučić with updates on the Grand Budapest project.
Panyi has suggested that Orbán may soon travel to Dubai to resolve outstanding issues related to the scheme.
Neither Eagle Hills, Affinity Partners (Kushner’s company), nor the Hungarian government responded to VSquare’s request for comment. The Budapest municipality stated that it had received no information on the matter, as the Hungarian government had not shared any details.
Read also:
New airport in northeast Hungary could open this spring – read more HERE
Another unexpected turn in the Grand Budapest project: here’s the National Asset Management’s reaction – details in THIS article
Auchan Magyarország is set to open an autonomous store in the Hungarian capital at the end of February.
The unmanned, 18-square-metre Auchan Go shop, operating 24/7, will be located in the southern part of Budapest, the retailer has announced. Customers will complete their purchases with the assistance of a mobile application, an AI-powered camera system, and shelves equipped with weight sensors.
According to Telex, the new autonomous store will not sell alcoholic beverages or other items restricted to customers aged 18 and over. However, a range of Auchan products will be available for purchase. The store will be situated in Budapest’s 11th district, at the corner of Bártfai and Vahot streets. Scheduled to open in February, it will function with the operational support of the Albertfalva Auchan store.
Illustration. Source: Creative Commons CC BY-NC-ND 2.0
Not the first autonomous store in Hungary
Intriguingly, the Hungarian Charity Service of the Order of Malta pioneered the country’s first autonomous store, which has been serving customers at the Fény Street Market. More recently, Coop announced similar plans, indicating growing interest in autonomous retail solutions, which we covered HERE.
Auchan raises non-management pay by almost 7%
Auchan Magyarorszag is raising the pay of non-management staff at its stores by close 7pc on average from January 1, the supermarket chain said on Thursday. Gross monthly pay will range between HUF 402,000 and HUF 550,700 (EUR 980 – 1,340) for people in unskilled positions. Pay for skilled positions will rise by 8pc. Auchan Magyarország’s headcount stands around 6,000.
Read also:
Unstaffed shops in Hungary: Here is how we can shop in these hybrid stores