JOURNAL ARTICLE

Hungary Plans to Build €6 Billion Dubai-Style Budapest District.

  • Published In: Bloomberg.com, 2023. P. N.PAG 1 of 3

  • Database: Business Source Ultimate 2 of 3

  • Authored By: Kasnyik, Marton 3 of 3

Abstract

Hungary's government has announced plans to develop a new district in Budapest, similar to Dubai, with an estimated cost of €6 billion. The project will be funded mostly by foreign investors, with the Hungarian government contributing €1 billion for infrastructure improvements. The specific foreign investor has not been identified, but it is rumored to be based in the United Arab Emirates. The project has been mandated by Prime Minister Viktor Orban, who wants to create a grand and impressive development. However, there has been criticism from the municipal government and concerns about the impact on Budapest's skyline. The details of the project will be finalized in the next six months. [Extracted from the article]

Additional Information

  • Source:Bloomberg.com. 2023/12, pN.PAG
  • Document Type:Article
  • Subject Area:Geography and Cartography
  • Publication Date:2023
  • Accession Number:173995339
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