Budapest Torpedoes ‘Mini-Dubai’ Land Deal in Blow to Orban
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Hungary’s government accepted the capital’s pre-emptive right to purchase a vast plot in central Budapest, which Prime Minister Viktor Orban originally wanted to sell to an Abu-Dhabi based developer to build a skyscraper-studded neighborhood.
The cabinet will publish a decree on Thursday that recognizes Budapest as the buyer of the dilapidated railyard and shifting the financial responsibilities for the purchase to the cash-strapped municipality, Cabinet Minister Gergely Gulyas told reporters.