Hungary, as president of the EU in the second half of the year, will work to promote closer ties between the European Union and the United Arab Emirates (UAE), Péter Szijjártó, the minister of foreign affairs and trade, said after meeting his UAE counterpart in Budapest on Tuesday.
Szijjártó welcomed the visit by Sheikh Abdullah bin Zayed Al Nahyan, noting that the sheik last paid an official visit to Hungary eight years ago, the foreign ministry said in a statement.
Sheikh Abdullah’s current visit is of particular importance for several reasons, Szijjártó said, adding that “responsible countries” such as the UAE played a stabilising role in its region amid today’s severe challenges around the world.
The foreign minister appreciated the UAE‘s role in brokering the Abraham Accords, and expressed hope that the Middle East would soon return to “the spirit of the agreement”.
He welcomed that the UAE has joined “the club of nuclear energy,” which he said “will open new horizons” in Hungarian-UAE ties in training and research. He noted that nuclear reactors have been operating in Hungary for more than fifty years.
Szijjártó said Hungary had always held UAE in high regard for its role in fighting terrorism. “This is rather important from the point of view of the security of the region and the world,” he said.
The Budapest administration is again conducting an online survey of residents’ views on how the project to redevelop the Rakosrendezo district should be carried out and whether district municipalities should continue to run specialist outpatient care facilities, Gergely Karácsony, the city’s mayor, said on Tuesday.
The question was whether the Rákosrendező project should end up like a “Mini Dubai” or a “park city”, the mayor said in a Facebook post.
Questions also remain over whether the Hungarian government should sell the area in an open international procedure or “hide behind an intergovernmental contract”.
He also noted the residents would be asked whether outpatient clinics should be “taken away by the state”, as was the case with hospitals and schools.
Video in Hungarian:
Karacsony insisted that waiting lists in the capital had been shortened, while districts were provided with extra money for outpatient specialist care.
More than a 100,000 people participated in last year’s survey dubbed residents’ assembly, when the chief questions concerned traffic on Chain Bridge and a lawsuit the capital launched against the government, he noted.
In the major agreement between the Hungarian government and the UAE, plans are afoot to revitalise the area surrounding Rákosrendező Railway Station, turning it into a “mini Dubai”. This ambitious project promises a modern urban centre, with shopping malls and residential spaces. According to experts, this could impact the real estate dynamics of the 14th district and the neighbouring areas.
Revitalised Rákosrendező, mini Dubai coming
As we have reported earlier, Hungary signed a cooperation pact with UAE, which established the conditions for a EUR 5 billion rehabilitation project in Rákosrendező, Budapest. In a landmark agreement between the government and the UAE, plans are underway to rejuvenate the surroundings of Rákosrendező Railway Station, heralding the dawn of a new urban hub within the capital.
Envisioned as a vibrant nucleus, this redevelopment initiative promises not just a facelift but a complete overhaul, featuring contemporary shopping malls and residential complexes. With the potential to reshape not only the 14th district but also the nearby neighbourhoods, this investment may transform the city’s real estate landscape.
Photo: Facebook/Karácsony Gergely
Already a popular locale
As reported by Pénzcentrum, otpotthon.hu’s data reveals that the average price per square metre of an apartment in District 14 has surpassed HUF 1 million (EUR 2,538), reflecting its burgeoning popularity. However, the new luxurious mini Dubai project is poised to have a further price-inflating impact on the nearby Districts 4, 13 and 15.
According to otpotthon.hu, there is already increased interest in these districts. District 4, Újpest, proves to be the most popular district in the Hungarian capital, while District 13 stands as the third and District 14 the seventh most sought-after neighbourhood. Zsuzsa Lipták, Chief Executive Officer of otpotthon.hu, highlighted:
While these districts are already popular among prospective homebuyers in Budapest, this investment could serve as an additional drawcard.
It’s worth noting that the impact of mini Dubai extends beyond the realm of standard residential properties. The involvement of Mohamed Alabbar’s company, known for its luxury investments worldwide, hints at a potential expansion of Hungary’s property market. Alabbar’s illustrious track record suggests the prospect of nearly one percent expansion in the nation’s luxury real estate portfolio.
Hungary’s luxury property market
Traditionally, premium properties command a premium price, often exceeding one and a half times the average rate for properties within their category. Currently, approximately 730 houses and 640 apartments in Budapest qualify as luxury properties, marked by an average price per square metre 61 percent higher than that of an average apartment in the city, according to otpotthon.hu.
With the advent of mini Dubai, we can anticipate a potential shift in Budapest‘s luxury districts. Historically, Districts 1, 5, 7, 2 and 3 have boasted the highest concentration of luxury property listings in the city. Nonetheless, the emergence of this new project could usher in a period of heightened competition for these prime locales.
The opposition Jobbik – Conservatives have called for halting the 30-day eviction notice issued to residents living on the site of an investment project in Rákosrendező, in Budapest.
The EUR 5 billion rehabilitation project planned by UAE developer Eagle Hills would bring about the eviction from some 25 flats in the area, lawmaker Dániel Kárpát Z said, and called for a moratorium until residents can be offered flats “equivalent or of higher quality” than their present apartments.
“The procedure may be lawful but it is unacceptable that the interests of foreign investors should precede those of the Hungarian residents”, he said.
At the forefront of the project dubbed Mini-Dubai, Emirati entrepreneur Mohamed Alabbar, owner of Eagle Hills Properties and the visionary behind the new five-billion-euro district planned for Rákosrendező, given his first statement on the details of venture.
The Khaleej Times reports not only on Europe’s tallest tower but also on a planned shopping centre and the development of a partly abandoned railway station.
Mini-Dubai project specifics
The mini-Dubai plans are attracting considerable attention, as investor Mohamed Alabbar was previously the builder of the world’s tallest and most famous building, the 828-metre Burj Khalifa.
“Eagle Hills Properties is excited about the opportunities that Hungary offers, a country known for its significant potential and rich cultural heritage. We are truly honoured to partner with them on this significant development,” said Mohamed Alabbar, President of Eagle Hills Group.
Alabbar said the project goes beyond mere real estate investment. It also shows their deep respect and admiration for Hungary’s historical significance, cultural life and future ambitions. He said the project will not only meet but surpass expectations.
Challenges ahead
As we previously reported, Minister of Foreign Affairs and Trade Péter Szijjártó had talks with UAE Minister of Foreign Trade Tani bin Ahmed al-Zejudi last Wednesday, during which the Foreign Minister hailed the development as a “flagship project”. Szijjártó remarked, “This vast urban development initiative will not only invigorate cooperation between our two nations but also propel the evolution of Budapest. It represents not merely a new, contemporary urban precinct but also a comprehensive urban development endeavour encompassing tourism, commerce, economics, and athletics.” Further details can be found HERE – Mini-Dubai: Hungary signs cooperation pact with UAE, EUR 5 billion
However, the plan, subsequently dubbed mini-Dubai or maxi-Dubai, has not garnered unanimous approval from the capital and its surroundings, with demands for multi-billion infrastructure enhancements in exchange. Nonetheless, site clearance has already begun.
Read also: Burj Khalifa is astonishing in the Hungarian national colours again – VIDEO
Dubai’s Burj Khalifa, the world’s tallest building, lit up in the colours of the Hungarian flag again. That is how Dubai commemorated Hungary’s national day, 15 March.
15 March has a special place in every Hungarian’s heart since it marks the start of the 1848 revolution, which resulted in the creation of a civic Hungary. Therefore, celebrations were held everywhere in Hungary and the Hungarian communities.
Burj Khalifa in red-white-green
But Dubai did a bit more. They lit up the world’s tallest building, the Burj Khalifa, in the Hungarian national colours, red-white-green. This is not the first time they paid respect to Hungary and our lust for freedom this way. Here is a video:
Hungary and the United Arab Emirates signed an economic cooperation agreement establishing the conditions for a EUR 5 billion rehabilitation project in Budapest on Wednesday.
The agreement was signed by Hungarian Foreign Minister Péter Szijjártó and the UAE’s Minister of State for Foreign Trade Thani bin Ahmed Al Zeyoudi, the foreign ministry said in a statement.
At a joint press conference after the meeting, Szijjarto said the “flagship” project by UAE developer Eagle Hills would give new impetus to the two countries’ economic cooperation, as well as Budapest’s development. Under the project “the abandoned industrial area around the Rákosrendező train station and rail yard in the city’s north will be transformed into a new city quarter with tourism, economic, business and sport functions”, the foreign minister said.
He said enhanced cooperation between Hungary and the UAE could pave the way for investments in other branches of the economy too.
Szijjarto noted that bilateral trade between Hungary and the UAE had climbed over an annual USD 1 billion and pointed to the presence of Hungarian companies in the Emirates’ food industry and ICT sector.
Al Zeyoudi called the agreement a “milestone” for economic relations with Hungary and said there was potential for further cooperation in the food industry and energy sector, including nuclear and renewables.
An international contract appeared on the official website of the Hungarian government concerning the project. The document writes that the Orbán cabinet would carry out an 800-million-euro infrastructure development project in Budapest’s downtown for the so-called mini-Dubai project involving even the erection of a skyscraper not far from the Heroes’ Square.
According to 444.hu, in return, investors from the United Arab Emirates would build a Dubai-like district in Rákosrendező with a modernised train station and even a skyscraper, which will be the tallest building in Budapest. Based on media information, its height will be 220-240 metres, much taller than the MOL Tower near the Danube, which is only 143 metres.
The government-close oligarch, Lőrinc Mészáros’s planned MBH office tower will ‘only’ be 90 metres tall.
The tallest building in the Hungarian capital is the MVM North Buda power plant’s chimney, which is 216 metres. Interestingly, the Hungarian parliament and Saint Stephen’s Basilica are just 96 metres tall. That was intentional at the end of the 19th century and referred to the conquest of the Carpathian Basin in 896.
Thus, the new Dubai district’s skyscraper will be taller than anything else in Budapest, so it will fundamentally shape the city’s outlook.
According to the government’s proposal, they would sell a Dubai investor 130 hectares around the Rákosrendező train station in the capital’s 14th district, close to Hungary’s iconic Heroes’ Square.
Extended metro line, direct connection to Budapest Airport
Furthermore, the government plans to sign a strategic cooperation with the contractor. Moreover, the cabinet labelled it a priority project of extraordinary importance for the national economy. As a result, opposition-lead local governments will lose all regulatory powers.
In addition, the government will carry out infrastructure development elements. For example, they will build a pedestrian overpass, develop the railway connections and cover the rail tracks to create a park over them. Moreover, the Orbán cabinet will extend metro line M1 and build bike and pedestrian roads.
Furthermore, the Hungarian government promised creating a direct railway connection between Budapest Airport and the Rákosrendező railway station.
The mayor does not like it
János Lázár, Hungary’s transport and construction minister, said they would need 35 hectares out of the 130 hectares for the railway network’s development. 60-65 hectares will be built-up area, and 20-25 hectares will host a new public park. The contractor will be Mohamed Alabbar’s Emaar Properties. That company built the Burj Khalifa in Dubai, the world’s tallest structure watching over its neighbourhood with 829.8 metres. They will invest EUR 5 billion in the area’s development, including the railway station’s renewal.
Gergely Karácsony, Budapest’s mayor, would like a Park City instead of the mini-Dubai in that region and wanted guarantees from the contractor.
In the last few years, several such megaprojects were announced. One is the student district near the Danube in Ferencváros and Csepel (9th and 21st districts) and a public park in North Csepel. Despite the spectacular visuals, nothing has happened since.
LMP: Budapest’s Rákodrendező is ‘green gold reserve’ (UPDATE: 14 January)
Budapest’s Rákosrendező neighbourhood is a “green gold reserve” where more parks and green areas should be developed, not buildings, the opposition LMP said on Saturday. Deputy parliamentary group leader Máté Kanász-Nagy told a press conference that the government planned skyscrapers and highrises for its “Rákos-Dubai” project that would turn the neighbourhood into an urban “heat island”, making life difficult for residents.
He called out Budapest Mayor Gergely Karácsony for not rejecting the project and suggested a “pact” may have been made with Construction and Transport Minister János Lázár. Kanász-Nagy complained that details of a new public transport tariff system had not been revealed by either the city council or the central government had said LMP had launched a petition to “rescue” Budapest public transport passes after the new system is rolled out on March 1.
Read also:
Dubai billionaire can build skyscraper near Heroes’ Square – Read more HERE
Budapest’s metro line may face closure due to the hazardous state of carriages – Details in THISarticle
Yesterday, the first Hungarian library opened in the United Arab Emirates, in Dubai’s International Business Tower, in the 1007 office. Congratulations to the enthusiastic founders and everybody who contributed to the successful project!
Kinga Judit Szabó has been living in the United Arab Emirates for 12 years. It was the successful businesswoman’s idea to create a Hungarian library in Dubai. She even donated her books to it, Magyar Nemzet wrote.
She wrote in a Facebook post that there were more than 5,000 Hungarians who live in the United Arab Emirates. She added that every Hungarian living in the UAE is an extraordinary person.
However, the Hungarian community there did not have a library before, even though Hungarian books can help them preserve their language, cultural heritage, and traditions. That is why she created the new library. She added that the entrance fee was one Hungarian book.
Visitors can find Hungarian classics from Mór Jókai to Magda Szabó in the library just like 20th century writers like Hrabal. Furthermore, there are children’s and popular science books, as well.
Here is a video and some photos of what the library looks like:
After the opening ceremony, she shared the following post and thanked for the help of the Hungarian Embassy in Abu Dhabi. “The opening ceremony was truly humbling, and I am extremely touched by the amount of people who showed up. We are building an amazing community for the Hungarians living in the UAE”, she added.
Read also:
Hungarian influencer becomes beauty queen of Dubai – Read more HERE
Free seaside holiday and four special offers await thanks to Wizz Air – Details in THISarticle
Edina Karina Deák, a Hungarian influencer and beauty queen, recently clinched the title of Miss Influencer in Dubai, beating out 800 other applicants. With a successful career as a content creator and a passion for luxury living, Edina has chosen to make Dubai her current home.
The journey to Miss Influencer
Edina’s journey in the world of beauty pageants began in Hungary. She participated in contests like Miss Balaton, Blikk writes. However, her recent triumph in Dubai has elevated her status to Miss Influencer, reflecting her talents and popularity in the online world. Over the years, Edina has transformed her hobby into a full-fledged career as a content creator. She shares her experiences, fashion tips and life events on various social media platforms, captivating audiences with her engaging content.
Despite accumulating wealth and popularity, Edina is currently single. She thinks it important to find a partner with shared values. In a recent interview with Naphire.hu, she expressed her desire for a committed, honest and loyal partner. Also, she would like to be with someone who is open to starting a family. Moreover, Edina insists on a relationship where both partners contribute equally to each other’s well-being and standard of living.
The price of success
Nevertheless, Edina’s success as an influencer didn’t come easy. Over the past five years, her passion for content creation has taken her around the world. She has tirelessly documented her journey, sharing it with her ever-growing followers.
Armed with a camera and drones, I travelled the world constantly collaborating and working on digital content for clothing brands and hotels
she said.
Edina believes that if a partner can’t match her level of dedication and hard work, they shouldn’t expect to share in the fruits of her success.
The decision to participate in the Dubai beauty contest was an easy one for Edina. After completing her studies in London, she was considering extending her lease. However, the competition presented a golden opportunity. Dubai’s warm climate, combined with the chance to build new contacts and collaborate with like-minded content creators, made it an ideal destination for Edina. It provided the perfect environment for her to continue thriving in her career.
Sustainable fashion venture in Bali
Edina’s story takes an inspiring turn as she shares,
I am very proud to have launched my own sustainable clothing brand in Bali.
Her venture is not merely about filling a gap in the market or realising a dream but also an opportunity to unite sustainability and fashion. Drawing from her education at the prestigious Condé Nast School of Fashion and Design in London, Edina brings a blend of creativity to her brand. Her commitment to environmental consciousness adds a unique and sustainable dimension to her fashion venture.
Future plans in the United Arab Emirates
Edina’s journey in Dubai is far from over. While she plans to celebrate the New Year in Bali, she intends to return to the UAE to resume her work as a content creator. Dubai has become a central hub for Edina’s professional endeavours. She is drawn by the opportunity to build connections and engage in valuable projects in this vibrant city. If you would like to read more about celebrities, you can browse through our collection of articles HERE.
Edina Karina Deák’s story is one of determination. From local beauty contests in Hungary to winning the Miss Influencer title in Dubai, she has successfully navigated the competitive world of social media and beauty pageants. In a world where beauty knows no bounds, you can delve into the life of the individual who has earned the title of Miss Hungary 2023 in THIS article.
Hold your excitement for now. The free holiday applies only to a group of tourists whose flight was delayed…by quite a stretch. However, the irresistible special offers are up for grabs for everyone.
According to Budflyer,a Hungarian travel news Facebook page, Wizz Air occasionally goes above and beyond passenger expectations – and in a jolly good way. Their Abu Dhabi-Budapest flight’s delay has reached a whopping 36 hours. Why, you ask? A mishap involving an A321 Neo, one of their swankiest planes, suffered some bumps during the touchdown.
But here’s the twist: a Budflyer reader said he had no complaints whatsoever. The Hungarian low-cost airline, notorious for occasional mishandling of passenger complaints, has pulled a rabbit out of the hat. As it turned out, they’ve arranged plush accommodations for their passengers in a hotel with a private seashore. And if that’s not enough, brekkie and dinner are thrown in – courtesy of the Hungarian low-cost airline.
As per the plan, the tourists’ flight will leave the paradise today. But, our hunch is, quite a few passengers might just give Abu Dhabi a warm welcome and relish the unexpected free holiday.
Here are some photos sent by a Budflyer reader from the Middle East, enjoying the surprising outcomes.
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Another passenger commented that they were being treated to free accommodation near the Formula One race track.
Special Wizz Air offers for the winter
Winter’s chill got you down? Fear not, for Wizz Air comes bearing gifts – four sunny destinations from Budapest to escape the Hungarian frost. Picture this: Cyprus and Dubai, where winter clocks in at a delightful 26°C, a far cry from the scorching 41°C of summer. Third on the list is Malta, and bringing up the rear is Tenerife (Canary Islands).
Wizz direct flights commute every day to Dubai. While Cyprus is reachable on Mondays, Wednesdays, Fridays and Sundays. Fancy a trip to Malta? Hop on the plane on Tuesdays, Thursdays or Saturdays. Meanwhile, a Wizz direct flight will whisk you away to Tenefire on Mondays, Wednesdays and Fridays, roadster.hu wrote.
Having said all that, Világgazdaság revealed that Wizz Air’s Q3 results fell behind expectations. Therefore, Concorde modified the rating of its shares from neutral to sellable. The drama unfolds!
Read also:
Hungarian Wizz Air to conquer India – Read more HERE
Wizz Air returnsto Moldova: London, Rome, Milan flights resumed
Hungary’s president met Shaikha Fatima bint Mubarak, the mother of the president of the United Arab Emirates, Mohamed bin Zayed Al Nahyan, on Saturday.
Shaikha Fatima bint Mubarak is well-known and respected for her humanitarian activity in the Emirates. Her foundation supports health-care, education and welfare institutions.
Katalin Novak and Shaikha Fatima bint Mubarak agreed on the importance of families and the need to support families, “which form the basis of society”, the president’s office said on Saturday.
In connection with demographic issues, Novak recalled her address given at the climate summit on Friday, when she spoke about how the family was not the problem was the solution to climate change. Novak said that in her opinion, climate change, poverty, inequality, biological diversity, water and “the demographic ice age” could only be tackled together. “We must protect the Earth for our children,” she said.
Novak addressed the UN Climate Change Conference (COP28) in Dubai on Friday before conducting bilateral talks with Cypriot president Nikos Christodoulides, Vietnamese PM Pham Minh Chinh, Mongolian president Uhnagin Hurelszuh, King of Bahrain Hamad bin Isa Al Khalifa, Polish president Andrzej Duda and Italian PM Giorgia Meloni, among others.
On Saturday, the Hungarian president will attend the national holiday of the United Arab Emirates. December 2, the anniversary of the unification of Abu Dhabi, Dubai and the other emirates is being celebrated with fireworks and other spectacles.
Read also:
Hungarian President met Charles III and pharaoh-researcher Hungarian archaeologists in Egypt – Read more HERE
Huge success for PM Orbán? Tens of billions of euros may come to Hungary soon
Governmental plans were released for a new city district and the funding of several new infrastructural buildings in the Rákosrendező area in Budapest. According to these, this proposal would include coordination with an Arab investor and the government is already working on the refinement of the plans with them.
The Arab investor mentioned is none other than Mohamed Alabbar’s company, the Emaar Properties. If this sounds familiar to you, it’s because this is the same company that built the Burj Khalifa in Dubai, the worlds tallest building, standing at 828 meters. Luckily, the one they plan to build in Hungary doesn’t even scratch that height, but with the planned 220 meters, it would still be the highest building in Budapest. The planned skyscraper isn’t the only shocking element of the plan: the broader vision includes the construction of a whole mini-Dubai in ten years’ time.
A long-term commitment
The funding of the new district would be an amount that is equivalent to roughly HUF 1900 billion or around EUR 5 billion. This sum would be based on an intergovernmental agreement between the United Arab Emirates and Hungary. The Emaar Properties would buy the area without competition, but at market price. The Hungarian government also pledged HUF 300 billion or roughly EUR 800 million for infrastructure developments in the area. These would include an overpass, metro and railway extensions.
The overpass would go between Zugló and Angyalföld, making the Városliget car-free. From this budget, they would also finally get around to restructuring the railways at Rákosrendező, which have been out of date for the last 20 years. The remainder of the money would pay for the construction of a pedestrian and bicycle path by the Rákos stream and the extension of the Metro Line 1. The area given to the Emaar Properties would host luxury apartments and office buildings.
The ground value for this area has not been estimated as of yet, that’s why the final price wouldn’t be fixed, rather a sum of square meter price. The area is estimated to be 69.3 hectares, but a few sections would be closed off from the deal. Among others, the necessary zones for long-term developments, such as the mentioned overpass, would also be excluded. The area of the BVSC would also be cut off as well as the Railway History Park. The Emaar Properties company also plans to build above the rails, but the plans are still pending and have not yet been approved.
Having doubts?
The proposition has not yet been approved and it seems that there’s already been a slip-up with time management. The third party, who would estimate the value of the discussed area, was supposed to inspect in early November, since according to Telex, the proposal was discussed in a governmental meeting at the end of October. To put the proposal into motion, the area would need to have an objective estimated value, and for that, a third party is needed. There was also supposed to be a public consultation and the involvement of local politicians. These haven’t happened yet and that may mean the government is having doubts about the whole affair.
A new Budapest
These doubts could be understandable since the area discussed sits very close to one of the crown jewels of Budapest, the Heroes’ Square. That means the proposed skyscraper would stand in the background of the world famous view. The mayor of Budapest added in a Facebook post, commenting on the issue of the Budapest skyline, that he finds it quite unbelievable that the government is even considering the offer.
Another main concern along with the questionable impact on this historical site is the lack of involvement of local politicians. Once asked about the possible construction, the Municipality of Budapest responded that they haven’t received word about it from the Parliament and as much as the Rákosrendező area is in need of a renovation, the public consultation can’t be left out when discussing a construction of this scale.
Nothing is certain, but discussion about the proposition is still taking place. Who knows, maybe ten years from now, we’ll see the DubaiPest come into being.
Soon, it might be worth reading stock exchange releases in Arabic… One of Hungary’s largest mobile networks, Yettel, could have a new owner from Abu Dhabi. Here are the details of the acquisition.
Arab ownership
Telex writes that Karim Bennis, CFO at Emirates Telecommunications Group Company Pjsc., has signed a major deal that will impact one of Hungary’s largest mobile networks too. e& aims to acquire a controlling stake (50% + 1 economic share) in the Central and Eastern European operations of the Czech PPF Telecom Group. The transaction, excluding the Czech operations, will see majority Arab ownership extending to Bulgaria, Serbia, Slovakia and Hungary, with Yettel being the notable Hungarian entity affected by this new ownership.
About the transaction
According to experts, the transaction will go through in the first quarter of 2024. It’s all a question of how fast they can acquire the regulatory approvals. In addition, the communications team will have to clarify and explain the changes to investors and customers as well. As it seems, the parties have already agreed on the financial background of the transaction. e&’s announcement states:
The upfront consideration for the acquisition is €2,150 million in exchange for a 50%+1 share economic stake in both the service and infrastructure companies (except for Hungary where Corvinus owns a 25% stake in the respective businesses). The transaction is also subject to up to €350 million in earn-out payments if PPF Telecom exceeds certain financial targets within the three year period after closing and is subject to a claw back of up to €75 million if such financial targets are not achieved.
Upcoming changes
As it is highlighted in the statement, Hungary differentiates from the other three countries mentioned above. In Hungary, the Hungarian state-owned Corvinus International Investment Ltd. has a 25% stake in the mobile network, Yettel. Whereas, in the other countries, there is no state-owned stake in any of the mobile providers affected. This might mean that Arab and Hungarian parties will have to negotiate. Other than that, people do not anticipate a change in the services – or at least not right after the transactions. According to the sources, drastic changes, such as rebranding or management changes, seem unlikely based on e&’s previous global investments. Read more about changes in the telecommunication industry in Hungary HERE.
What does the future hold for the mobile network?
Looking ahead, the future of Yettel remains uncertain. Speculation arises about the Hungarian state potentially selling its 25 percent stake to Arab investors, especially if there’s a financial need, possibly linked to Budapest Airport ownership. While the outcome remains unclear, e& commits to keeping the market informed of any developments on this subject. You can read about the possible outcome of the Budapest Airport ownership issue HERE. In addition, e& also pledges in its announcement:
Should there be any developments on this subject, we will keep the market updated in due course.
The 42nd annual edition of the Sharjah International Book Fair (SIBF) has crossed a historic milestone by attracting the highest number of participating countries since its inception in 1981. This edition will play host to 2,033 publishers and exhibitors from 108 nations from around the world. They will collectively present an impressive array of 1.5 million titles, all to be showcased in Expo Centre Sharjah from 1-12 November.
Organised by the Sharjah Book Authority (SBA) and carrying the theme We Speak Books, SIBF 2023 will bring together 600 authors from around the world to sign their new works. This is part of a comprehensive cultural, creative, and entertaining 12-day agenda that includes over 1,700 activities led by 215 guests from 69 countries targeting all age groups and diverse interests.
This year, SIBF celebrates South Korea as the Guest of Honour, showcasing the republic’s unique knowledge and cultural landscape covering literature, art, technology, and culture. The cultural extravaganza will also host an exhibition in collaboration with the Portuguese University of Coimbra featuring 60 historical artefacts. Furthermore, the book fair has dedicated 6 interactive spaces to upskill visitors and enrich their knowledge.
This announcement was made during a press conference held at the SBA headquarters where H.E. Ahmed bin Rakkad Al Ameri, CEO of SBA; H.E. Moon Byung-iun, Consul General of the Republic of Korea in Dubai; Salem Al Ghaithi, Director of the Sharjah Broadcasting Authority; Khoula Al Mujaini, General Coordinator of SIBF; and Mansour AlHassani, Director of Publisher’s Services at SBA, unveiled the agenda of the highly anticipated international event. The conference was also attended by Mohammed Al Amimi, Vice President Business Engagement & Customer Support, ‘Etisalat by e&’, as well as officials and media representatives.
Sharjah: The Silk Road for Publishers
During his keynote speech, H.E. Ahmed bin Rakkad Al Ameri, CEO of SBA, affirmed that Sharjah has become a hub connecting the East and West. This achievement is attributed to the vision of His Highness Sheikh Dr. Sultan bin Mohammed AlQasimi, Member of the Supreme Council and Ruler of Sharjah, who recognised the importance of knowledge and books in nation-building and the advancement of civilisations. Al Ameri pointed out that the emirate not only facilitates access to books for readers everywhere but also aspires to become the “Silk Road” for publishers worldwide. These achievements have been widely recognised and lauded globally.
H.E. Ahmed bin Rakkad Al Ameri, CEO of SBA.
Al Ameri said, “The emirate’s relentless efforts have led to significant global milestones, guided by Sheikha Bodour Al Qasimi, who has spearheaded the advancement of the publishing industry in Sharjah, the UAE, and the world. She has laid solid foundations for the development of the country’s publishing sector. Today, she continues this journey as the Chairperson of SBA.”
Al Ameri concluded by saying,
“Today, we are not only here to announce the details of SIBF 2023 but also to take a new step in a cultural project that has been evolving for forty-two years. This project emphasises that books are the cornerstone of developmental plans for countries in the region and globally. That’s why we have chosen the theme ‘We Speak Books’ for the 42nd edition.”
During his speech at the press conference H.E, Moon Byung-iun, Consul General of the Republic of Korea said, “Korea’s methods of modernising its culture while preserving its past roots aligns perfectly with Sharjah’s values of supporting cultural creativity while preserving its local heritage and history. I believe that the cultural exchange between Sharjah and South Korea will continue to deepen and therefore open new paths of exchange that were never explored before. I want to extend my heartfelt thanks to Sharjah Book Authority for their amazing efforts to bring more than 20 South Korean authors, novelists, poets, calligraphers to Sharjah to exhibit their work and share their knowledge through talks, workshops and many more cultural programs.”
‘We Speak Books’
Reflecting on the SIBF 2023 slogan, Khoula Al Mujaini, General Coordinator of SIBF, said: “We Speak Books embodies SIBF’s comprehensive vision for the book and culture industry. It has evolved beyond an event for buying and selling books to become a global hub for exchanging expertise, ideas, and knowledge. It also serves as a platform for securing publishing and translation agreements and a forum for discussing literary, artistic, and intellectual issues, attracting a diverse audience from all segments of society, whether they are avid book readers or interested in creative industries related to books.”
Khoula Al Mujaini, General Coordinator of SIBF1043 Arab publishers amd 900 international
This year, 1043 Arab and 990 international publishers will showcase over 1.5 million titles, including 800,000 in Arabic and 700,000 in other languages during SIBF 2023. The UAE, Egypt and Lebanon top the list of Arab publishers taking part in the 42nd edition and on the international front, publishers from India, the UK, and Turkey top the international list.
127 Guests to Spearhead 460 Cultural Activities The 42nd edition will feature a constellation of esteemed writers, thinkers, intellectuals, and artists, including Nobel laureates and recipients of distinguished Arab and international accolades. The exhibition will congregate 127 Arab and international guests from 33 countries to steer 460 cultural endeavours, encompassing panel discussions, immersive workshops, and sessions spanning various artistic expressions and literary genres.
Emirati and Arab Guests SIBF 2023 will welcome eminent Emirati writers and intellectuals, such as poet Khaled Al-Badou, Dr. Mashael Al Nabooda, Adel Khozam, Mohammed Al Jokar, Suad Al-Araimi, Fathia Al Nimr, Dr. Aisha Al-Ghais, and Saeed Al Badi.
From the Arab domain, SIBF will host Algerian novelist Ahlam Mosteghanemi; Egyptian writer and screenwriter Ahmed Mourad; Kuwaiti author Dr. Mohamed Al Ghandour; Kuwaiti novelist Bothayna Al Issa; Lebanese poet Talal Haidar; Egyptian poet Nour Abdel Meguid; Egyptian media figure Reham Ayad; Kuwaiti poet Sheryan AlDihanni; Egyptian novelist and journalist Tareq Imam; Saudi poet Fahad AlShahrani; published physiognomy and body language experts Sarah and Hajar Abdul Rahman; Qatari poet Nasser Alober; along with many others.
International Guests Prominent international figures gracing SIBF 2023 include English-born Canadian journalist Malcolm Gladwell; Indian actress Kareena Kapoor; Swedish behavioural expert and author Thomas Erikson; Nigerian playwright and novelist Wole Soyinka; British-Pakistani novelist and writer Mohsin Hamid; Czech-Canadian scientist Vaclav Smil; American astronaut Sunita Williams; Dutch author Swami Purnachaitanya; Indian writer Monika Halan; among others.
Exhibition featuring 60 historical artefacts
The 42nd edition will feature an exhibition in collaboration with the University of Coimbra. This exhibition delves into the Portuguese presence in the Gulf and the cultural relationships forged there during the sixteenth and seventeenth centuries. It will display 60 historical artefacts, including manuscripts, rare books, maps, and maritime tools. This exhibition underscores the profound relationship between the University of Coimbra and Sharjah, further solidified by the conferment of an honorary degree to His Highness Sheikh Dr. Sultan bin Mohammad AlQasimi, Member of the Supreme Council and the Ruler of Sharjah, in 2018. Concurrently, a series of sessions will be organised, featuring esteemed historians discussing various facets of Portuguese history in the region.
Thriller Festival The eagerly awaited second edition of the Thriller Festival is slated from November 8-10, in partnership with Thriller Festival NY. This 3-day event will congregate acclaimed thriller and crime genre writers with their aficionados. This year, the festival will spotlight ten international authors, including bestsellers, to engage with mystery and suspense enthusiasts in the region. Featured authors comprise Felix Francis, Ivy Pochoda, Candice Fox, J.D. Barker, Danielle Trussoni, Alex Finlay, Max Seeck, Blake Crouch, C.J. Howe, and Kathleen Antrim.
Six interactive spaces
This year, SIBF 2023 features six interactive spaces targeting various demographics. They will be home to 900 workshops led by more than 31 guests from 12 countries, offering new and diverse activities. The workshops will cover self-reflection, emotional balance, and self-improvement, as well as comics, child literature, inventions and innovation workshops tailored for children and youth. For the older visitors, the 12-day book fair will organise workshops on animation, interpersonal skills, and handicrafts. In addition, the six interactive spaces offer motivational and collaborative workshops for both adults and children, including creative writing workshops and advanced topics such as sign language and supporting individuals with disabilities.
130 Shows Featuring Theatre, Dance Performances, and Musicals
A captivating lineup of 130 theatrical performances and musicals, directed by artists and performers from 14 countries, will be showcased during the 12-day event.
SIBF 2023 will also premiere the musical play “Barcode Prison,” the most significant Emirati theatrical production in 2023. The cast includes Emirati actors Marwan Abdullah, Ahmed Mal Allah, Musa Al Bukishi, Bader Hakmi, Haifa Al Ali, and Reem Al Faisal. Directed by Marwan Abdullah Saleh, the play humorously and musically addresses the issue of bullying.
The cultural extravaganza will also host a children’s musical by the ALJ Sisters Band, starring Aljoud Albaanon, Wadha Alayoub, and Aljourry Albaanon. The play is about three girls experiencing various situations that teach them valuable lessons and social values.
Cookery Corner The Cookery Corner this year will welcome 12 international chefs, each showcasing their distinct culinary prowess and cultural nuances through 45 dynamic activities. Participating chefs include Kim Kyeongmin and Kim Joohyun from South Korea, Torie True from the UK, Yohanis Gebreyesus from Ethiopia, Barbara Massad from Lebanon, Suzanne Husseni from Canada, Sally Butcher from the UK, Irina George from Romania, Marianna Leivaditaki from Greece, Chef Suresh Pilla blending UK and Indian flavours, and Krish Ashok from India.
Social Media Station
Throughout the 12-day book fair, the Social Media Station will host workshops and specialised sessions covering a diverse range of topics, including enhancing partnerships and collaborations with social media influencers and trends, artificial intelligence, as well as the production of AI-enhanced content.
South Korea’s Guest of Honour Programme In celebration of its status as SIBF 2023’s Guest of Honour, South Korea will curate engaging activities under its cultural program titled ‘Imagination Without Borders.’ The vibrant agenda encompasses 15 cultural programs, 7 panel discussions, and 5 musical renditions by select South Korean artists. The honorary guest will also feature 3 distinguished chefs at the Cookery Corner, alongside children’s entertainment and activities. Notable participants from South Korea include artists Kyung Hyewon, Kim Sangkeun, and Park Hyunmin, accompanied by author Jeong Munee; Ahn Jina, Associate Professor at Okinawa International University; Kim Ho, HK Professor at Seoul National University Asia Center and Emeritus Professor Lee Hee at Hanyang University Soo.
More than 600 book signing sessions
This year, SIBF 2023 will host more than 300 authors from around the world who will autograph their new works, while the dedicated “Book Corner” will host over 300 authors from 12 countries who will launch their new titles during the book fair
Publisher’s Training
SIBF 2023, in collaboration with New York University, will orchestrate a training programme centred on international publishing standards and practices for 120 publishers. This encompasses 20 from the UAE, 50 Arab publishers, and 50 African publishers. This year’s curriculum will explore the potency of podcasts and storytelling in augmenting profits in the publishing realm, as well as data strategies for publisher triumph.
13th Publishers Conference
The eagerly awaited Publishers Conference will span three days from 29-31 October. Over 42 speakers and experts will helm 4 keynote speeches and 31 roundtables on day one, addressing pivotal issues and challenges confronting the publishing sector. On day two and three, the conference will facilitate matchmaking sessions between publishers, to negotiate over topics such as the buying and selling of rights, and translation agreements. The event will also ultimately serve as a forum for discussing ways to bolster the sector, share expertise, and broker new deals.
The 13th edition will commence with the participation of high-level officials in the publishing sector, including Sheikha Bodour Al Qasimi, Chairperson of the Sharjah Book Authority; Núria Cabutí Brull, CEO of Penguin Random House Grupo; and Ian Chapman, Chief Executive and Publisher, Simon & Schuster UK and International; and Cheolho Yoon, Chairman of the Korean Publishers Association, and head of the South Korean Guest of Honour Delegation.
The international conference brings together publishers, and literary agents from 105 countries, including 11 participating for the first time: Benin, Ivory Coast, the Czech Republic, Mauritius, Paraguay, Burkina Faso, Zaire, Malawi, Guinea, Zimbabwe, and Zambia.
Sharjah Publisher Recognition Award and ABC Awards
During the Publishers Conference, winners of the Sharjah Publisher Recognition Award will be announced with 58 candidates including 42 literary agents, and 16 publishers from 58 countries who applied for the award.
Furthermore, the Accessible Books Consortium (ABC) has chosen the Publishers Conference to announce the winners of the second edition of the ABC International Excellence Award for Accessible Publishing, which aims to honour publishers that produce books for the visually impaired.
Sharjah International Library Conference
The 10th iteration of the Sharjah International Library Conference (SILC), in partnership with the American Library Association (ALA), is scheduled from November 7th to 9th. It will assemble over 400 international librarians and specialists representing diverse libraries in the US and around 30 additional countries.
Salem Al Ghaithi, Director of the Sharjah Broadcasting Authority, stated, “Sharjah International Book Fair (SIBF) is a prestigious international event that attracts visitors from all over the world. We are proud to collaborate on the media coverage and broadcast of SIBF to convey its cultural richness to households in Sharjah and beyond. Our commitment to promoting culture in Emirati society is evident in our extensive and responsible coverage of SIBF. We run a dedicated satellite office from the fair’s grounds throughout the 12-day event, and a significant number of our team members are present to cover the activities on our various platforms and channels. We highlight the most prominent authors and publishers, provide an overview of the event’s literary and cultural scene, and enable the audience to connect with these distinguished authors, making SIBF an unforgettable experience.”
SIBF 2023 is supported by a range of strategic sponsorships and partnerships, including Etisalat by e& as the official sponsor; the Sharjah Broadcasting Authority as the official media partner; and Expo Centre Sharjah the strategic partner of SIBF.
There are just a few places in the world where you can invest in real estate like Dubai. Even in less-than-ideal market circumstances, the emirate delivers variety and competitive returns with yields on rentals ranging from five to 10% in the most accessible real estate market in the Middle East.
The significance of Dubai’s real estate industry extends beyond only its appealing pricing and good return on investment. Modern airport infrastructure makes Dubai one of the most linked cities in the world; it is also considered one of the safest places to live, and with residents from more than 200 countries, the city embodies a lifestyle that is truly global.
However, research is essential, just as with any significant investment. If you’re looking for villas to buy in Dubai, you should carefully consider a number of factors in order to identify the best opportunities. Here are some steps to help you make an informed decision.
Dubai has options for every kind of customer
There are many advantages and benefits to living in Dubai, and individuals from all walks of life may find enough to enjoy there. It’s crucial to understand how the city connects its plethora of shopping centres, museums, eateries, water parks, beaches, and everything in between. One of the most important initial steps for purchasers of villas is to choose a location that suits all of their lifestyle requirements. Discover the city’s many neighbourhoods and projects. Because each has its own personality; choose the one that best suits your needs or ensures the highest yield.
Choose the kind of villa that you want to own
Next, decide what kind of housing you want after you’ve settled on a location. The kind of villa you choose will greatly affect your spending limit, long-term profits, and investment value. Consider the benefits of buying off-plan, the advantages of buying a big or small villa, and other factors before making your decision. Check the region to see if any building projects are scheduled to take place in the near future. For investors seeking immediate gratification, a finished home can be a preferable choice.
Learn about your legal options
The website of the government body provides easy access to the laws and regulations of the Dubai Land Department. You can find helpful guidelines for investing in real estate in Dubai’s local laws. You need not be a UAE citizen or a Dubai resident, for instance, to buy a home in Dubai’s freehold real estate market. Multiple property acquisitions in various locations are made possible by the freedom provided to non-resident investors. Aligning your long-term objectives with your rights is crucial when making investments in Dubai.
Take a look around the villa
Try to have a look around the property on your own. Speak to your agent if you have any queries regarding the property. They will be pleased to assist you with starting the purchasing process, answer any questions you may have, and let you understand what to anticipate. While on the property, have a checklist with you. Think about things like the neighbourhood, the ease of access to the metro system, the frequency of taxi service, the noise level in the area, and the accessibility to stores and other facilities.
Making an offer
Establish an offer price with considerable room for negotiation if you want to deal directly with the vendor. You must decide on a fair price for the property or structure you want to purchase. Both the buyer and the seller must accept the conditions of the transaction in order to purchase a home in Dubai. To finish your purchase, you will also need to provide numerous kinds of documentation and pay an initial deposit. Sometimes, the purchaser will also be responsible for paying the transfer costs and the broker’s commission.
Finalising the deal
Once everything else is decided you can finalise the finances of the property. A few investors choose to make a cash purchase of a property. This is often chosen as it streamlines the overall experience and makes the purchasing process easier. But there are also other digital process options like eNotes for those investors who cannot visit in person but still want to buy and complete all processes online. If you meet the requirements, a mortgage is another readily accessible choice. You can be certain that purchasers of real estate in Dubai will be safeguarded at every stage of the investing process according to the city’s regulatory framework. Proper personalization and maintenance may make owning a house in the emirate a very fulfilling experience.
Buying a villa is a life-altering decision, but preparation is key. It’s preferable to get going right away. Before you make the choice to buy a house, it’s important to be prepared and learn as much as possible about the process. This will make the search easier to do.
Prime Minister Viktor Orbán on Friday travelled to Serbia to attend a summit of Serbian, Hungarian and United Arab Emirates (UAE) leaders, the PM’s press chief told MTI.
Orbánis scheduled to meet Aleksandar Vucic, the Serbian president, and Sheikh Mohammed bin Zayed al-Nahyan, Abu Dhabi’s crown prince, as part of the trilateral talks in Belgrade, Bertalan Havasi said. Orbán and Vucic will then hold bilateral talks after the meeting that will focus mainly on economic and energy issues, he added.
Before, media said that the Hungarian government would like to nationalize Budapest Airportwith the help of Middle Eastern investors. News outlets talked about Qatar investors. But in the end, it might be UAE business people who will join the business.
Serbia and Hungary maintain close political and economic cooperation, and their economic cooperation is particularly successful, Prime Minister Viktor Orbán said in Belgrade on Friday. “One of us is in the European Union as a member while the other is not, but this is not a disadvantage, rather an opportunity,” Orbán told reporters together with Aleksandar Vucic, the Serbian president.
Orbán and Vucic held talks with Sheikh Mohammed bin Zayed al-Nahyan, Abu Dhabi’s crown prince, in the Serbian capital. The aim of the trilateral talks was to present to the sheikh the economic cooperation of Hungary and Serbia, Orbán said, adding that their meeting served as an opportunity to explore cooperation possibilities. This was the first opportunity for him to participate at such a trilateral talk, he said.
Orbán said he was convinced that he and Vucic could effectively represent their two countries’ joint perspective before third countries and investors that are interested in the region. The Hungarian prime minister said the agenda of his meeting with Vucic later in the day includes migration, issues around Brussels, EU enlargement and related deadlines. He stated that Hungary did not support any kind of sanctions against any country and saw dialogue as the only solution to conflicts.
Sheikha Bodour bint Sultan Al Qasimi, Chairperson of Sharjah Book Authority (SBA), has affirmed that Sharjah is solidifying its status as a global cultural hub, and serves as a reliable destination for all those seeking to discover Arab culture and its rich history and contributions to humankind.
The SBA Chairperson also noted that the emirate’s prestigious cultural platforms like the Sharjah International Book Fair (SIBF), further advance communication between nations, making the global cultural landscape more diverse and vibrant.
Sharjah International Book Fair 2023
These statements were made by the Sharjah Book Authority (SBA) on the occasion of the announcement of the Republic of South Korea as Guest of Honour at the upcoming 42nd edition of SIBF, which will be held from November 1-12 in Expo Centre Sharjah.
The international event provides an unparalleled platform to engage with a diverse group of writers, thinkers, and cultural figures worldwide.
South Korea’s nomination for the emirate’s biggest cultural event is poised to celebrate the richness of the centuries-old Korean culture and heritage, as well as familiarise SIBF’s guests and visitors with the latest developments in their cultural, literary and creative landscape. The pioneering ways in which South Korea has modernised its cultural landscape by being strongly rooted in its past, has garnered immense attention and popularity across the Arab region and the world.
The republic’s selection as SIBF’s GoH for the upcoming edition also further solidifies the longstanding cultural ties between Sharjah and South Korea, which celebrated the emirate as their Guest of Honour at the 65th edition of the Seoul International Book Fair this June.
Commenting on SIBF’s global cultural importance, Sheikha Bodour stated,
“Thanks to the guidance of His Highness Sheikh Dr. Sultan bin Mohammed AlQasimi, Member of the Supreme Council and Ruler of Sharjah, SIBF has established itself as an exemplary Arab accomplishment, and we are elevating its role to enrich global culture. It has served as a platform for publishers, book industry professionals, and libraries to flourish, build partnerships, and strengthen relationships with their target audience. Moreover, the event has broadened the horizons for newer developments in Arab culture, enabling it to reach broader segments of society.”
For his part, HE Ahmed bin Rakad Al Ameri, CEO of Sharjah Book Authority (SBA), said: “Celebrating the cultural experience of South Korea embodies the vision of His Highness the Ruler of Sharjah, which has transformed the emirate into a prominent hub of culture and education in the region and around the world. SIBF is designed on HH Sheikh Dr. Sultan Al Qasimi’s belief that books and knowledge create the strongest and most sustainable foundations for longstanding cultural dialogue between nations and peoples. It also opens new avenues for partnerships and collaboration between the UAE’s and Arab world’s knowledge market with their global counterparts”.
Guest of Honour – Sharjah International Book Fair:
“This November, South Korean culture, history, customs & practices, and their scientific and technological advancements will meet Emirati culture’s authentic Arab values, rich history, and heritage. This represents an opportunity for the public, publishers, library owners, and book institutions to directly engage with a distinguished culture of the far east. SIBF serves as a platform to strengthen their connections with local and global markets. At the same time, our Guest of Honour programme has served as an ideal gateway for new cultural accomplishments like the establishment of institutes, signing of partnerships, and the launching of initiatives over the past years that brought Sharjah and the UAE closer to nations worldwide,” he added.
The South Korean pavilion at SIBF 2023 will present a rich cultural programme of activities and events that reflect the aesthetics and diversity of Korean culture, which is particularly popular amongst the youth. Through panel discussions, workshops, culinary demonstrations, and artistic performances, visitors will have the chance to learn about the history, civilisation and arts of South Korea. The pavilion will also host several authors and cultural figures from South Korea who will share their experiences and perspectives with the audience.
Sharjah International Book Fair 2022
Sharjah International Book Fair is considered one of the most prominent cultural events in the region and the world. Each year, it attracts millions of book and culture enthusiasts, facilitating the buying and selling of publishing rights between publishers and authors and supporting the region’s book industry. In 2022, the book fair brought together more than 2,213 publishers from 95 countries alongside 150 writers and thinkers from 57 countries. Over the course of 12 days, it featured 1,500 cultural, artistic, and entertainment events, and for the second year in a row, it earned the title of the largest book fair in the world in the sale and purchase of publishing rights.
