Mini-Dubai: Budapest Mayor Kept Pre-Emptive Right Secret

  • 31 Jan 2025 12:58 PM
  • Hungary Around the Clock
Mini-Dubai: Budapest Mayor Kept Pre-Emptive Right Secret
Mayor Gergely Karácsony yesterday signed the letter authorizing the city-owned public utility company BKM to exercise its pre-emptive right to buy the land in the 14th District designated as the site of a huge “mini-Dubai” development project.

A contract published last week revealed that the company retained such a right.

Karácsony told Telex yesterday that the capital had known about the pre-emptive right earlier and deliberately did not reveal it until now, so that the government could not oust BKM from the investment area through a land reform procedure.

The city leaders were surprised that this did not happen in the end, he said.

As BKM filed its intention to exercise its pre-emptive right on Thursday, so Karácsony now sees it as legally impossible to take away that right.

According to the contract, the city, as the owner of the site, will have a say in what can be built there, Karácsony said as he promised that the city’s interests will be enforced.

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