Top developer Eagle Hills Properties is to bring the grandeur of Dubai to Budapest in a €5 billion redevelopment project that is set to feature Europe’s tallest tower.
Eagle Hills Properties LLC announced the partnership with Hungary to build a “Dubai-like” new neighbourhood in Budapest. Thani bin Ahmed Al Zeyoudi, UAE Minister of State for Foreign Trade, and Péter Szijjártó, Hungary’s Minister of Foreign Affairs and Trade signed an agreement of economic cooperation at a press conference.
The project to transform the run-down Rákosrendező railway station in Budapest into a “Dubai-like neighbourhood”, led by Eagle Hills, is planned to include Europe’s tallest tower, a state-of-the-art shopping centre, offices and also homes. It is expected to encompass one million square metres.
Eagle Hills found Mohamed Alabbar says, “Eagle Hills Properties LLC is thrilled at the prospect offered by Hungary, a country celebrated for its vast potential and rich cultural heritage. We are genuinely honoured to be considered for partnership in this significant development.
“This project goes beyond mere real estate investment; it is a testament to our deep respect and admiration for Hungary’s historical significance, cultural vibrancy, and the ambitions of its people for the future.”
Ahmed Al Zeyoudi says, “This is a government-to-government agreement which laid out the foundation for companies like Eagle Hills to come in and do huge investments in the property development sector in Hungary.”
Péter Szijjártó says, “It was important in 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 dilapidated area. Thus, the agreement was signed, which will provide the framework for a complex development plan of the real estate development giant Eagle Hills in the area around the Rákosrendező railway station.”
