Budapest seals deal for Rákosrendező site, clearing path for development
The long-awaited talks between the national asset manager and Budapest’s public utilities company have finally concluded successfully, as announced by Gergely Karácsony, the mayor of Budapest. The discussions centered on contractual issues governing the sale and purchase agreement of the planned Rákosrendező property development, located in the 14th district in the northwest of the capital.
According to Karácsony’s Facebook post, all necessary documents have been signed, and the Budapest company is set to transfer the first instalment of the purchase price on Monday. An application for the registration of the Budapest company’s ownership will then be submitted to the land office the following day.
Under the terms of the purchase contract, an agreement must now be reached with the national railway company MÁV on how to divide land usage within 60 days. Once this is finalized, the Budapest company will be able to take possession of the area within a month. One of the first tasks on their agenda will be to remove waste that has been blighting the site, including waste deposited by the state.
Karácsony also mentioned that further negotiations will be required to address state transport investments and legislative amendments necessary for the development of the area.
This significant progress marks a positive step forward in the revitalization of the Rákosrendező property development project. Stay tuned for more updates on this exciting development.
