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.
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.
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