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No decision on Mundo project

The municipal assembly of the Zugló district of Budapest did not reach a decision on whether it would give the go ahead to Poland’s Echo Investment to commence building its Mundo multi-use real estate project in the area.

The company and the local government have long been locked in a stalemate regarding the authorization of the project, the investor claiming that its plans now on the table exceed the environmental requirements of local zoning regulations, while Zugló mayor Leonárd Weinek says that the plans are nonetheless in violation of the originally signed contract.

Zugló press chief Nóra Oláh told state newswire MTI that the matter will have to be reintroduced to the agenda within 10 days.

Weinek on the other hand said the fact that no vote was passed on the matter is in itself a success, since it shows that investors cannot have local governments swallowing their illegal plans. (Gazdasági Rádió)