Market Asset Management, a construction company owned by István Garancsi, approached the town with the idea in April.

The town located between Budapest and Szentendre was asked to rezone agricultural land as a construction site to start the project, for which Market offered to pay Ft 100-120 million. The company was also prepared to pay Ft 200 million in local taxes annually.

Mayor Richárd Göbl said the town council decided unanimously to give priority to fighting climate change and taking environmental considerations into account.