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Fostering the Regeneration of Brownfield Areas in Hungary

Fostering the Regeneration of Brownfield Areas in Hungary

Hungary
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In order to advance the regeneration of brownfield areas, a reform package on the amendment to the Act on the Formation and Protection of the Built Environment was introduced on 4 June 2019.

According to the amendment, brownfield area is a parcel of land or sum of parcels of lands, not including the agricultural and forestry areas, that were abandoned following their primary use for industrial, commercial, transport or defence purposes, they are typically under-utilised, degraded and usually loaded with environmental pollution, although they could be regenerated to a value-added and developed area by environmental and technical development.

The amendment stipulates furthermore that if there is a brownfield area in the administrative territory of a municipality, such municipality must define the brownfield area and its regeneration concept, as well as the possibilities for its development.

By defining the brownfield areas, the Hungarian Government is reacting to the social and economic problems linked to these territories. Developments in brownfield areas could help to decrease urban sprawl and a more sustainable and compact urban structure could be created with efficient and sustainable usage of resources.

By Gabriella Galik, Partner, KCG Partners Law Firm

Hungary Knowledge Partner

Nagy és Trócsányi was founded in 1991, turned into limited professional partnership (in Hungarian: ügyvédi iroda) in 1992, with the aim of offering sophisticated legal services. The firm continues to seek excellence in a comprehensive and modern practice, which spans international commercial and business law. 

The firm’s lawyers provide clients with advice and representation in an active, thoughtful and ethical manner, with a real understanding of clients‘ business needs and the markets in which they operate.

The firm is one of the largest home-grown independent law firms in Hungary. Currently Nagy és Trócsányi has 26 lawyers out of which there are 8 active partners. All partners are equity partners.

Nagy és Trócsányi is a legal entity and registered with the Budapest Bar Association. All lawyers of the Budapest office are either members of, or registered as clerks with, the Budapest Bar Association. Several of the firm’s lawyers are admitted attorneys or registered as legal consultants in New York.

The firm advises a broad range of clients, including numerous multinational corporations. 

Our activity focuses on the following practice areas: M&A, company law, litigation and dispute resolution, real estate law, banking and finance, project financing, insolvency and restructuring, venture capital investment, taxation, competition, utilities, energy, media and telecommunication.

Nagy és Trócsányi is the exclusive member firm in Hungary for Lex Mundi – the world’s leading network of independent law firms with in-depth experience in 100+countries worldwide.

The firm advises a broad range of clients, including numerous multinational corporations. Among our key clients are: OTP Bank, Sberbank, Erste Bank, Scania, KS ORKA, Mannvit, DAF Trucks, Booking.com, Museum of Fine Arts of Budapest, Hungarian Post Pte Ltd, Hiventures, Strabag, CPI Hungary, Givaudan, Marks & Spencer, CBA.

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