Located at the meeting point of Districts VIII., IX. and X., Népliget is becoming the new business district of Budapest and still has a good deal of development potential, according to portfolio.hu.
The area is very popular in terms of new real estate investments. Sport complexes, office buildings and museums are all under construction, with plenty of vacant sites and old buildings offering excellent targets for potential future projects.
Current renovations include the new Transport Museum with a giant glass façade, partly conserving the old building, and where the exhibition area will also feature a green park.
The Budapest Arena, with a capacity of 20,000 people, is expected be completed by 2022, in time for the Mens’s Handball Championship. The government has allocated HUF 3.045 billion for the project.
Népliget is also home to several new office buildings, such as the 17,000 sqm K3, the new Magyar Telekom headquarters, and the Liberty office. New developments will help extend the services available for residents and those who work there, portfolio.hu added.