The fight over 'mini-Dubai' continues
29 January 2025
In the middle of Budapest, a UAE-based corporation is planning to build what the opponents call a 'Mini-Dubai'. After years-long negotiations, the Hungarian government sold 85 hectares of land for €12 billion to Eagle Hills Group, which wants to build skyscrapers over 250 metres tall. Many fear they'll negatively impact the skyline of the Hungarian capital.
The government is enthusiastic about the investment, which serves as a prestige investment providing jobs and growth at a time when the economy is doing poorly. Opposition circles, meanwhile, are now mobilising against the decision.
 | Erik Szilárd Boros Budapest mayor Gergely Karácsony has announced that the city intends to invoke the right to purchase the territory for themselves before the deal is finalised, even threatening to take the state to court if this right is denied – a move supported by other prominent opposition parties as well, including Péter Magyar's Tisza. For them, the project is proof of the government's failure to care for publicly owned lands and to protect the state's sovereignty over its property. |
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