Luxurious Mini-Dubai in Budapest: Europe’s tallest tower and a shopping mall underway – Daily News Hungary

At the forefront of the project dubbed Mini-Dubai, Emirati entrepreneur Mohamed Alabbar, owner of Eagle Hills Properties and the visionary behind the new five-billion-euro district planned for Rákosrendező, given his first statement on the details of venture.

The Khaleej Times reports not only on Europe’s tallest tower but also on a planned shopping centre and the development of a partly abandoned railway station.

Mini-Dubai project specifics

The mini-Dubai plans are attracting considerable attention, as investor Mohamed Alabbar was previously the builder of the world’s tallest and most famous building, the 828-metre Burj Khalifa.

“Eagle Hills Properties is excited about the opportunities that Hungary offers, a country known for its significant potential and rich cultural heritage. We are truly honoured to partner with them on this significant development,” said Mohamed Alabbar, President of Eagle Hills Group.

Alabbar said the project goes beyond mere real estate investment. It also shows their deep respect and admiration for Hungary’s historical significance, cultural life and future ambitions. He said the project will not only meet but surpass expectations.

Challenges ahead

As we previously reported, Minister of Foreign Affairs and Trade Péter Szijjártó had talks with UAE Minister of Foreign Trade Tani bin Ahmed al-Zejudi last Wednesday, during which the Foreign Minister hailed the development as a “flagship project”. Szijjártó remarked, “This vast urban development initiative will not only invigorate cooperation between our two nations but also propel the evolution of Budapest. It represents not merely a new, contemporary urban precinct but also a comprehensive urban development endeavour encompassing tourism, commerce, economics, and athletics.” Further details can be found HERE – Mini-Dubai: Hungary signs cooperation pact with UAE, EUR 5 billion

However, the plan, subsequently dubbed mini-Dubai or maxi-Dubai, has not garnered unanimous approval from the capital and its surroundings, with demands for multi-billion infrastructure enhancements in exchange. Nonetheless, site clearance has already begun.

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