Budapest approves development plan for Óbuda gas works

Telco

The City Council of Budapest approved on Tuesday a schedule for a plan to develop the area around the Óbuda Gas Works, a long-abandoned listed building in the north of the capital. The decision serves as a base for Ft 79 billion in property development planned on the site. Private investments are expected to cover Ft 55 billion of the total cost of the development, to include homes, businesses and cultural centers, the City Council will contribute Ft 2.5 billion, Ft 1.8 billion will come from the central budget and Ft 19.9 billion from public-private partnerships. The City Council expects Ft 8 billion from the proceeds of sales of property at the site. The development is expected to be completed by 2010.

ADVERTISEMENT

Reforms to raise productivity would strengthen recovery - OE... Analysis

Reforms to raise productivity would strengthen recovery - OE...

Meeting called to address Pegasus spyware lacks quorum  Parliament

Meeting called to address Pegasus spyware lacks quorum 

Skanska commercial dev unit names new EVP of operations Hung... Appointments

Skanska commercial dev unit names new EVP of operations Hung...

Zsa Zsa Gabor's ashes buried in Budapest City

Zsa Zsa Gabor's ashes buried in Budapest

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.