Published: December 07 2023
Exciting plans are underway in Budapest for the extension of the metro line and a luxury development project known as Maxi-Dubai near Rákosrendező. These projects involve substantial investments, including contributions from Dubai.
Metro Line Extension
One of the major investments in Budapest is the extension of the M1 metro line, which has been in operation for over a century. The Hungarian government, along with their partner, will be responsible for the implementation of the development concept. The extension of the metro line is expected to improve transportation infrastructure in Budapest.
Luxury Development Project
The Maxi-Dubai project near Rákosrendező is set to become one of the largest luxury developments worldwide. The investor from Dubai will contribute nearly HUF 5 billion to this project, making it a significant investment. While details regarding the potential inclusion of a towering block on the site are undisclosed, two people have shown interest in this special area.
As part of the Maxi-Dubai project, the Hungarian government has committed to developing five infrastructures. This includes the construction of the Szegedi Avenue overpass, the renovation of the railway station and track at Rákosrendező, and the establishment of a cycle and pedestrian path. These developments will contribute to improving the overall infrastructure in Budapest.
Contracts for these projects are expected to be signed this year. The government is considering two construction approaches, one involving the sale of the real estate necessary for the project and the other involving the acquisition of land under the buildings involved in the development. The government is also in the process of preparing an international treaty between the UAE and Hungary, indicating the significance of the investment from Dubai.
Budapest is set to undergo exciting developments with the extension of the metro line and the Maxi-Dubai project. These projects will not only contribute to the city's infrastructure but also attract significant investments from Dubai. Budapest will continue to grow and thrive with these exciting plans in place.
Questions & Answers
What is the Maxi-Dubai project in Budapest? The Maxi-Dubai project is a luxury development project near Rákosrendező in Budapest. It involves substantial investments from Dubai, ranking among the largest worldwide.
How much is the investor contributing to the Maxi-Dubai project? The investor is contributing almost HUF 5 billion (EUR 13,090,491) to the Maxi-Dubai project.
What infrastructures will the Hungarian State commit to developing as part of the Maxi-Dubai project? As part of the Maxi-Dubai project, the Hungarian State will commit to developing five infrastructures. These include the construction of the Szegedi Avenue overpass, the renovation of the railway station and track at Rákosrendező, and the establishment of a cycle and pedestrian path. The most significant investment involves extending the more than century-old M1 metro line.
What construction approaches are being considered for the Maxi-Dubai project? There are two construction approaches being considered for the Maxi-Dubai project. In one scenario, the state would sell the real estate necessary for the realization of the project. In the alternative version, the investor would acquire the land under the buildings involved in the development and pay the value of the land use right.
When is the document for the Maxi-Dubai project expected to be signed? The document for the Maxi-Dubai project is expected to be signed this year.
What is the purpose of extending the M1 metro line as part of the Maxi-Dubai project? The purpose of extending the M1 metro line as part of the Maxi-Dubai project is to improve transportation infrastructure and connectivity in Budapest.
Where is Rákosrendező located? Rákosrendező is located in Budapest, Hungary.
Who is involved in the negotiations for the Maxi-Dubai project? The Hungarian government and an investor from Dubai are involved in the negotiations for the Maxi-Dubai project.
Are there any specific details about the potential inclusion of a towering block in the Maxi-Dubai project? Details regarding the potential inclusion of a towering block in the Maxi-Dubai project remain undisclosed at the moment.