Budapest Breaks Ground on Mini-Dubai Project: Giga Real Estate Development Begins
The Mini-Dubai project is set to begin in Budapest’s Rákosrendező area, with preparations for the project kicking off with the demolition of buildings, tracks, tree felling, and the removal of illegally dumped waste. The land, which is currently state-owned but will be handed over to Arab investors for the controversial mini-Dubaj project, is being prepared by MÁV, the owner of the land.
According to reports from hvg.hu, a public tender has been announced by MÁV for the preparation of the Rákosrendező area, with a contract worth HUF 14 billion for land reclamation, including the clearance of 130 hectares. The project aims to prepare the planned development of the Rákosrendező railway station, which will become a new EUR 5 billion urban area and is considered a priority investment.
The winning tenderer will be responsible for cutting down trees, clearing the area of vegetation, demolishing redundant buildings, and removing hazardous waste, including asbestos. The timeline is tight, as the government plans to hand over the site to the developer by autumn, as reported by mfor.hu.
The Mini-Dubai project is expected to bring significant changes and development to the Rákosrendező area, marking a new chapter in Budapest’s urban landscape. Stay tuned for more updates on this exciting project.
