The Budapest Assembly is set to debate a proposal on Wednesday that could halt a major property development project, potentially including the construction of the European Union’s tallest skyscrapers, Bloomberg reports.
The project, dubbed “mini-Dubai” by locals, has sparked a conflict between the city’s leadership and the Hungarian government.
Mayor Gergely Karacsony has submitted a motion urging the capital to exercise its pre-emptive right to purchase the 85-hectare plot of land that was recently sold by Prime Minister Viktor Orban’s government to Abu Dhabi-based developer Eagle Hills. The developer plans to transform the currently dilapidated railyard within city limits into a glamorous new neighborhood.
“Budapest will defend its rights, land, and future,” Mayor Karacsony said in an emailed response to the news agency.
He disputes the government’s claim that the city cannot challenge the sale and has pledged to take legal action if the city’s attempt to buy the land is blocked. Karacsony also advocates for the development of affordable rental housing instead of luxury apartments, citing the city’s ongoing housing crisis.
The project has faced scrutiny and local opposition from the start, and the recent sale of the land to Eagle Hills has intensified concerns. The “mini-Dubai” development would see the construction of high-rise towers that could dramatically alter Budapest’s skyline.
Meanwhile, Jared Kushner’s Affinity Partners has denied reports that the former US president’s son-in-law may become involved in the project. The news website Vsquare reported on Friday that Kushner could eventually join, but Affinity has pushed back against those claims. Affinity is already collaborating with Emirati billionaire Mohamed Alabbar, who owns Eagle Hills, on the construction of a Trump Tower hotel in Belgrade.
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