Europe
Orban’s Glitzy Office Development Puts Spotlight on Cronyism
A new government complex has become a target for the Hungarian leader’s most serious political challenger in 14 years.
Durer Park, Budapest.
Photographer: Akos Stiller/BloombergThe concrete-and-glass office complex next to Budapest’s City Park was a bet on the post-pandemic revival of commercial real estate. But Hungary’s lackluster economic recovery and rampant inflation led to plunging demand, and the development looked destined to lose money.
That was until Prime Minister Viktor Orban stepped in.