News Hungary strikes deal with Dubai to develop $5.5bn neighborhood in Budapest

RIYADH: A neglected neighborhood in Budapest is set to be rejuvenated courtesy of a €5 billion ($5.5 billion) deal with Dubai, according to Bloomberg.

Hungary and the UAE have officially sealed the agreement to recondition a district in Budapest in a Dubai-style, but Bloomberg reported that the project had “drawn criticism even before being formalized.”

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