What is being built?

Preparations for the giant investment in Crab Orchards have begun

Published

2024. 02. 20. 09:04

Magyar Építők

The aim of ÉKM is to complete the clearance of the brownfield site by the summer. Around 600-650 thousand square metres would be used for office, residential and commercial buildings; another 250-350 thousand square metres would be used to create one of Budapest's largest public parks; and the extension of metro line 1 and a new railway station are also planned.

Preparations have begun for the Rakosrendező area, according to Építési és Közlekedési Minisztérium (ÉKM). The 130-hectare area, located on the border of the capital's 13th and 14th districts, According to information provided by the Minister of Construction last December, an international agreement for private investment worth at least EUR 5 billion is being prepared. In addition, the Hungarian state has undertaken to carry out infrastructure investments worth approximately €1 billion.

The area would be cleared by the end of the summer to allow the next phase to start

In the area of the Rákosrendező railway station on the Vác railway line, ÉKM has now announced that it has initiated the termination of tenancy and other rights of use in the area and has called on the users of properties left behind or erected without permission to hand over the land.

The next step in the preparation of the project will be the removal of about 175 thousand tonnes of construction debris from the demolition of the burnt down Budapest Sports Hall (BS), the sale of railway materials owned by the state, and the recultivation and remediation of the area.

The aim of ÉKM is to complete the clearance of the site by the end of the summer and to start the next phase of property development. It is recalled that the government has decided to build a new millennium district on the largely derelict former industrial land surrounding and adjacent to the Rákosrendező railway station.

The construction of one of Budapest's largest public parks is also among the goals

The co-head of ÉKM, János Lázár, said earlier that the 1.3 million square metres (130 hectares) area would be divided into two parts. About 900,000 square metres could be used for community and private purposes. Within this area, 600-650 thousand square metres would be developed by the foreign investor, including office buildings, apartments and commercial properties. A further 250-350 thousand square metres would create one of the largest and most modern public parks in Budapest. A part of the railway tracks would be covered and a green area would be created above it.

The project may also involve significant transport improvements. At the press conference in December, János Lázár identified the creation of a new railway station as a goal, and the extension of the M1 metro line was also mentioned as an important element. In addition, the entire road and non-trail transport system in the region needs to be renewed, and the creation of 20-30,000 parking spaces may be justified, as well as the rebuilding of 4-5 interchanges.

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