Five billion euros will be used to build a new district in Rákosrendező

– An agreement has been reached between Hungary and the United Arab Emirates on economic cooperation, as part of which a new district can be built around the Rákosrendező railway station with a huge investment of five billion euros – Péter Szijjártó, Minister of Foreign Affairs and Trade, announced on Wednesday in Budapest.

According to the statement of the Ministry of Foreign Affairs and Trade, the head of the department welcomed the continuous development of bilateral relations after the signing of the agreement on economic cooperation between the two countries at a joint press conference with the Minister of Foreign Trade of the United Arab Emirates, Tani bin Ahmed al-Zejudi.

He pointed out that the value of trade between Hungary and the United Arab Emirates has already exceeded one billion dollars a year, and that domestic companies are also increasingly active in the Middle Eastern country in the fields of the food industry, IT and digital industries.

He called it an essential basis that the two countries approach economic issues from a non-ideological point of view, as it is based on this that a new impetus can be given to the cooperation with the agreement just signed.

Budapest, March 13, 2024. Péter Szijjártó, Minister of Foreign Trade and Foreign Affairs (l) and Száni bin Ahmed az-Zejudi, Minister of State for Foreign Trade of the United Arab Emirates (Photo: Róbert Hegedüs)

He then added that it is always important in the economic cooperation between two countries to have a flagship project, which in this case could be the construction of a new Budapest district in a particularly ruined area. This is how the agreement was signed, which provides a framework for the complex development plan of the giant real estate developer Eagle Hills in the vicinity of the Rákosrendező railway station.

This is a five billion euro investment. As a result, a new part of the city, a new city quarter, will be created in the vicinity of the Rákosrendező railway station and in the abandoned, dilapidated industrial areas that lie around it

he declared.

Minister of Foreign Affairs and Trade Péter Szijjártó (j) and Száni bin Ahmed az-Zejudi, Minister of State for Foreign Trade of the United Arab Emirates, sign a cooperation agreement at the press conference held after their meeting (Photo: MTI/Róbert Hegedüs)

This huge urban development project gives new impetus not only to the cooperation between the two countries, but also to the development of Budapest, since not only a new, modern city district is being built, but also a large urban development investment with complex touristic, economic, business and sports functions.

he underlined. He stated: the large-scale investment gives a new quality to the life of Budapest and the country as well, the capital will be placed on the global map, which includes cities that carry out similar large-scale developments. – And I am also confident that this huge investment can pave the way for companies in other emirates operating in modern industries to see Hungary as an attractive investment destination – he said.

Péter Szijjártó also emphasized that these are two countries that make their economic decisions based on reality and common sense.

Discussing the common points, he also touched on the fact that both Hungary and the United Arab Emirates are burdened with serious security challenges in their immediate environment.

Budapest, March 13, 2024. Péter Szijjártó, Minister of Foreign Trade and Foreign Affairs (l) and Száni bin Ahmed az-Zejudi, Minister of State for Foreign Trade of the United Arab Emirates (Photo: Róbert Hegedüs)

In this regard, he praised the wise and responsible political strategy of Abu Dhabi, with which it plays an important stabilizing role in the extremely fragile Middle Eastern region.

Without this stabilizing role of the United Arab Emirates, both regional and global security would be much more fragile than it is now.

he highlighted. The minister finally stated that the Middle East should return as soon as possible to the spirit of the Abraham Accords, which brought hope for peace after decades of failed attempts.

These are two countries that stand up for the importance of peace, and also stand up for the freedom of world trade and the world economy, he said, to which, according to his words, security crises pose a serious threat.

Creating peace worldwide and ending armed conflicts is also a serious economic interest, he pointed out, citing the uncertainty of maritime trade in the Red Sea as an example.

MÁV: The preparation of the cancer screening area is proceeding regularly

The cancer staging area is being prepared according to the conditions included in the written contract, which are known and accepted by the tenants concerned. As a reminder, based on the owner’s order, MÁV Zrt. already notified the affected parties about the termination of leases and other usage rights almost a month ago, while it called on untitled users of properties left behind or erected without permission to leave the area, reports the Communications Directorate of MÁV Zrt. on their website.

As they write, the railway company, in addition to the legal process, tries to provide all the help it can to provide its former legal tenants with alternative rental and housing options. During this process, some of the residents have already accepted the offered exchange property, and more than a dozen of them are currently participating in the negotiation process, in which the railway company is trying to provide meaningful assistance to them as well.

They add that work processes will soon begin in the cancer management area, during which the presence of unauthorized persons on site is not only prohibited, but also dangerous in some cases. Therefore, it will not be possible to live in the intervention area in the following period or to conduct commercial activities there, i.e. the evacuation is largely justified by safety considerations, regarding which the railway company has no discretion.

In accordance with the owner’s decree, MÁV Zrt. already started the termination of approximately 65 rental and other usage contracts in mid-February, and called on users without legal title to leave the area

MÁV underlined.

During the eviction procedures, the railway company tries not only to fully comply with the legislation, but also to act with the greatest possible fairness, so it helps to the best of its ability to identify suitable alternative rental and housing options for apartment tenants, and to find suitable legal and financial solutions.

Participation in the consultation process is provided to all individuals and businesses that legally use the area until it is evacuated.

Cover photo: Minister of Foreign Affairs and Trade Péter Szijjártó welcomed Száni bin Ahmed az-Zejudi, Minister of State for Foreign Trade of the United Arab Emirates, in his office (Photo: MTI/Róbert Hegedüs)

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