Budapest's Great Boulevard to be renovated, with planning to start this year

The planning of the complex renewal of the Nagykörút between Nyugati tér and Mester utca can start this year, the phased investment is expected to start next year and can be completed by the end of the next cycle - said Mayor Gergely Karácsony at a press conference on Thursday, in response to a question.

The development was agreed between the capital and the four districts concerned - VI, VII, VIII, IX - at an off-site cabinet meeting held in Erzsébetváros.

The development will be financed with approximately HUF 4 billion from the European Union, the capital and the district.

The complex development is not simply about renewing the physical space, but about creating a coherent image for the city, and combining this with a business development programme

- was said at the event.