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Mammoth investment planned for Danube island in Budapest

A real-estate investment on a similar scale to the controversial King's City casino is being planned for a Danube island in northern Budapest, daily Népszabadság reported on Monday.  

The plan to cover 350,000 sq/m with a casino, conference centre, hotels, apartment blocks, restaurants and bars as well as underground garages on the Obuda Island which hosts the annual Sziget festival will pose a threat to the local environment, say green activists quoted by the paper.

They say the investment is similar to the King's City casino planned near the lake resort of Velence which the Fidesz-led government is investigating.

The government has accused former prime ministers Gordon Bajnai and Ferenc Gyurcsány of illegally selling state-owned land to an Israeli consortium and providing sweeteners for the deal.

Green party LMP says that the scheme planned for the Óbuda Island in Budapest has approval of both the opposition and local politicians on the government side.

András Béres, the green party's candidate to head the municipal district where the island is situated, says that the investment by Plaza Centers, a Dutch-Israeli concern, poses several threats to the environment. (MTI-Econews)