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Budapest mayor wants new city development strategy

Budapest has no projects prepared that could be showcased at the MIPIM property fair in Cannes, which urgently necessitates a city development strategy, Budapest mayor István Tarlós told business daily Napi Gazdaság.

Speaking at the expo, he pointed out that there are currently only a handful of concepts that could come into consideration. These need to be prioritized and with the involvement of investors, excellent results could be reached in a few years, Tarlós added.

In the meantime, Budapest must review its regulations and local administration, which Tarlós called “chaotic” in its present state. At the top of the list of areas in Budapest that could be the venues of the best developments, Tarlós pointed out the downtown region and the shores of the Danube. The capital wants to have specific plans by next year's MIPIM, he added.