Preparations Begin for Rákosrendező Rehabilitation 

Construction

Photo by Wikimedia Commons

Around 65 parties using areas of the Rákosrendező train station and rail yard in the north of Budapest are being informed that their rental contracts and other agreements are being terminated as part of preparations for a large-scale rehabilitation project, the Ministry of Construction and Transportation said in a release on its website.

All of the parties will be notified during the week, the ministry said. The goal is to clear the area by the end of summer, allowing the next phase of the real estate development to start, it added.

Late last year, the government announced plans for a EUR 5 billion rehabilitation project involving high-profile multinational property developers at the site.

The state has committed to undertake some EUR 1 bln in infrastructure investments in the framework of the project.

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