The United Arab Emirates (UAE) and Hungary reportedly signed an agreement to build a “neighbourhood like in Dubai” in Budapest, with a deal valued at 7 billion US dollars (Rs 5,80,22,40,50,000).
As per a report by Reuters, Eagle Hills Properties, led by Mohamed Alabbar, is partnering with the Hungarian government to construct the world’s tallest tower, a shopping mall, and develop a partially abandoned railway station.
It is reported that proposal suggests the construction of a “Dubai-like skyscraper” in Budapest.
The announcement comes after the UAE and Hungary on Wednesday, March 13, signed an economic cooperation agreement to boost trade and investment between them.
It was signed by Dr Thani bin Ahmed Al Zeyoudi, the UAE’s Minister of State for Foreign Trade, and Peter Szijjarto, Hungary’s Minister of Foreign Affairs and Trade, the Emirates News Agency (WAM) reported.
“The agreement aims to stimulate sustainable growth, create opportunities for collaboration, and incentivize future-focused private enterprises and emerging industries,” Al Zayoudi said.
Szijjarto, expressed optimism about the signing of an economic cooperation agreement with the United Arab Emirates, aiming to enhance bilateral relations and foster more diverse, robust, and sustainable economic and commercial relations.
