Budapest Post

Cum Deo pro Patria et Libertate
Budapest, Europe and world news

Eagle Hills Group Announces Grand Budapest Urban Development Project

Eagle Hills Group Announces Grand Budapest Urban Development Project

The ambitious project aims to revitalize an abandoned area in Budapest with sustainable and smart city concepts.
The Eagle Hills Group has announced the signing of a property purchase agreement for the site of the 'Grand Budapest' mixed-use real estate development project.

This ambitious development aims to revitalize a long-abandoned district in Budapest, often dubbed as 'Mini-Dubai.' The project will be situated on a site that requires reclamation and redevelopment.

The Grand Budapest project is underpinned by the principle of sustainability, with the design centered on smart city concepts.

This includes energy-efficient buildings, renewable energy systems, and intelligent waste management solutions.

In addition to its focus on sustainability, the Eagle Hills Group emphasizes health and education as cornerstones of well-being.

Consequently, the Grand Budapest project will feature various sports, educational, and recreational facilities to support a balanced urban lifestyle, according to a company statement.

Representing the project, entrepreneur Mohamed Alabbar, known for his involvement in the construction of the Burj Khalifa, stated that the Grand Budapest project will transform a neglected area into a world-class green urban district.

The development reflects a vision to create spaces that enhance daily life, prioritize sustainability, and highlight the importance of community.

Inspired by Budapest’s rich cultural heritage, the project aims to respect local traditions while incorporating modern elements that enhance the city's character.

The development spans 100 hectares, with plans to create 35-40 hectares of parks and vibrant public spaces.

The project not only aims to restore a forgotten historical part of Budapest but also sets a global benchmark for human well-being, sustainability, and urban living.

The land, originally part of the Hungarian State Railways (MÁV) property, was intended for transfer post-completion of remediation and waste removal tasks.

However, as reported by Origo, the relevant procurement process was annulled by the contracting authority.

Regarding the 'Grand Budapest' name, Eagle Hills Group has initiated the process of obtaining the necessary naming rights from the appropriate authorities.

The project has started with the support of the Hungarian government and the government of the United Arab Emirates.

With a development cost exceeding 12 billion euros, the Grand Budapest project is expected to contribute significantly to Hungary's economic growth, accounting for approximately 2% of GDP growth, creating thousands of jobs during both construction and operation, and boosting local businesses, tourism, and real estate values.

Mohamed Alabbar expressed the project's vision as being more than just a development; it represents a vision for a better, more prosperous Hungary, aspiring to create a legacy that inspires future generations.
AI Disclaimer: An advanced artificial intelligence (AI) system generated the content of this page on its own. This innovative technology conducts extensive research from a variety of reliable sources, performs rigorous fact-checking and verification, cleans up and balances biased or manipulated content, and presents a minimal factual summary that is just enough yet essential for you to function as an informed and educated citizen. Please keep in mind, however, that this system is an evolving technology, and as a result, the article may contain accidental inaccuracies or errors. We urge you to help us improve our site by reporting any inaccuracies you find using the "Contact Us" link at the bottom of this page. Your helpful feedback helps us improve our system and deliver more precise content. When you find an article of interest here, please look for the full and extensive coverage of this topic in traditional news sources, as they are written by professional journalists that we try to support, not replace. We appreciate your understanding and assistance.
Newsletter

Related Articles

0:00
0:00
Close
USAID Uncovered: American Taxpayer Funds Leveraged to Erode Democracy in Europe Until Trump Put a Stop to It.
JD Vance and Scholz Did Not Come Together at the Munich Security Conference.
EU Official Participates in Discussions in Washington Amid Trade Strains
Qatar Contemplates Reducing French Investments Due to PSG Chief Investigation
Germany's Green Agenda Encounters Ambiguity Before Elections
Trump Did Not Notify Germany's Scholz About His Ukraine Peace Proposal.
Munich Car Attack Escalates Migration Discourse Before German Elections
NATO Allies Split on Trump's Proposal for 5% Defense Spending Increase
European Parliament Advocates for Encrypted Messaging to Ensure Secure Communications
Trump's Defense Spending Goal Creates Division Among NATO Partners
French Prime Minister Bayrou Navigates a Challenging Path Amid Budget Preservation and Immigration Discourse
Steering Through the Updated Hierarchy at the European Commission
Parliamentarian Calls for Preservation of AI Liability Directive
Mark Rutte Calls on NATO Allies to Increase Defence Expenditures
Dresden Marks the 80th Anniversary of the World War II Bombing.
Global Community Pledges to Aid Syria's Political Transition
EU Allocates €200 Billion for AI Investments, Introduces €20 Billion Fund for Gigafactories
EU Recognizes Its Inability to Close the USAID Funding Shortfall Due to Stalled US Aid
Commission President von der Leyen Missing from Notre Dame Reopening Due to Last-Minute Cancellation
EU Officializes Disinformation Code for Online Platforms, Omitting X
EU Fails to Fully Implement Key Cybersecurity Directives
EU Under Fire for Simplification Discussions Regarding Corporate Sustainability Reporting
Shein Encountering Further Information Request from the EU During Ongoing Investigation
European Commission Initiates Investigation into Shein as It Aims at Chinese E-Commerce Regulations
German Officials Respond to U.S. Proposal for Peace Talks with Russia
Senate Approves Robert F. Kennedy Jr. as Secretary of Health and Human Services.
Trump and Putin Engage in Discussions on Ukraine Peace Negotiations Amid Worldwide Responses
Honda and Nissan End Merger Talks
Highlights of New York Fashion Week Celebrate Iconic Comebacks and Rising Stars.
Trump Asserts BRICS 'Is Finished' in Light of Tariff Threats.
Trump's Tariffs Loom Over Major German Trade Exhibition
OpenAI Modifies Its Strategy in Response to Growing AI Competition
CPJ Report Indicates a Record High in Journalists Killed in 2024.
World Leaders Champion Ethical and Inclusive AI Governance at Paris Summit
Chinese Nationals Taken Off Flight at Kuala Lumpur International Airport
How Spain Transformed from High Unemployment to Eurozone Growth Leader
EU Promises Swift Response if New US Tariffs Are Introduced
The European Union Shifts Focus to AI Innovation Amid Global Competition (or at least this is what they claim)
Merz and Scholz Engage in Confrontation Over Migration and Economic Strategies in Pre-Election Debate
Tech Giants Boost Investment in AI Infrastructure Despite Competition
Europe Faces Growing Security Concerns and Trump's New Demands on Ukraine
Justin Bieber Sparks Concern as New Footage Raises Health Fears
European Right-Wing Leaders Celebrate Trump’s Impact on Global Politics
Germany Confronts Political Turmoil Before Sudden Election
Macron's AI Vision Encounters Obstacles in the Global Technology Race.
Reports of Pro-Russian Bots Attempting to Influence German Election Surface
'BACK TO PLASTIC!': Trump to End Bans on Plastic Straws
TikTok Sued Over Alleged Child Deaths Caused by 'Blackout Challenge'
U.S. Ally Claims Trump Has Distinct Credibility to Resolve Ukraine-Russia Dispute
At least ten fatalities confirmed in shooting at a Swedish school, authorities report.
×