“The historic renewal of [the park] is based on … real estate development involving new buildings, the renovation of existing cultural facilities and park development, culture and tourism,” Városliget Zrt, the company responsible for the Liget Budapest project, said in a statement.

Out of submissions from 120 countries, the jury and the audience selected Liget as the best in its category, it added.

New sites that have already won several big international awards include the House of Hungarian Music and the Museum of Ethnography.

Liget Budapest is Europe’s largest cultural investment in scale and complexity, the statement said.