The signing of the purchase agreement between the Hungarian state and the investor Eagle Hill from the Emirates in January was supposed to be the starting signal for the sharply criticized luxury project. It involves an area of 85 hectares at a purchase price of 50.9 billion forints (approximately 125 million euros), which is to be paid in three installments.

Skyscrapers between 250 and 500 meters high were planned on the site, within sight of such important Budapest landmarks as the Andrássy út boulevard, Heroes' Square (Hősök tere) and the Városliget city park. The project was known in the Hungarian media as "Mini-Dubai" or "Maxi-Dubai", most recently it was officially called "Grand Budapest". Now, according to Minister of Chancellery Gergely Gulyás, the city government has assumed responsibility for the development of the area and all obligations.

Mayor: "The interest of Budapest has won"
The Orbán government has backed down, rejoiced Budapest Mayor Gergély Karácsony on Facebook (see post above). Instead of the "mini-Dubai", Budapest's interest had won out. "We have exercised our right of first refusal, whereby Budapest will fulfill all the conditions that the Arab billionaire had assumed in the purchase agreement," wrote Karácsony. Instead of skyscrapers, a green, sustainable residential district called Park City is now to be built.

However, there is talk in the Hungarian media of a possible "trap" for the mayor of Budapest. This is because numerous renovations on the station site have to be coordinated with Orbán's government. It is not expected that the right-wing conservative cabinet will want to put any obstacles in the way of the Green politician Karácsony.

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