Important Factors of Greenfield Investments in Hungary

In a classical sense, a “greenfield investment” is the construction of a new industrial unit in a territory previously used as agricultural area. The selected land is under agricultural use, and public utilities and infrastructure necessary for the industrial unit are typically not available. In many cases already existing industrial plants do not have any other choice but to expand towards the neighboring agricultural parcels. In the course of a greenfield investment, developers have to face several circumstances which differ from those of a “classic” or a “brownfield” industrial project.

Uniform principles for the protection of the cityscape

A new act on the protection of the cityscape has been approved by the Hungarian Parliament recently for the purpose of supporting construction investments as well as protecting and forming the specific cityscape of cities and villages. Under the new rules, the elements of the cityscape protection, the liability for the cityscape requirements and information about the cityscape requirements shall be defined in a local legal regulation, to be issued by the municipality.