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Hungary. The son of a Russian Kremlin oligarch, Timur Rahimkulov, has bought a luxury villa in Budapest

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Hungarian-based Russian billionaire Timur Rahimkulov, whose father is an oligarch with close ties to the Kremlin, has bought a villa with a hotel in Budapest. The property is worth – according to estimates quoted by the Hungarian daily “Blikk” – about one billion forints, which is the equivalent of over PLN 12 million. It is located in one of the most prestigious districts of the Hungarian capital.

Russian billionaire living on Hungary Timur Rahimkulov, whose father Megdet is an oligarch with close ties to the Kremlin, has bought a villa in Budapest where a hotel is being arranged, according to the website of the Hungarian daily Blikk. The value of the transaction is not known, but according to a real estate specialist quoted by the newspaper, the estate is worth about one billion forints, i.e. over PLN 12 million.

It is a 1,500 square meter 22-room Villa Korda property located in the prestigious 2nd district of Budapest. Its owners were a married couple of popular Hungarian singers, Gyorgy Korda and Klari Balazs.

Hotel Villa KordaGoogle Street View

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The building functioned partly as a 3-star hotel. According to the couple, the reason for selling the property was too high maintenance costs. As “Blikk” wrote, they had already tried to sell the villa for 780 million forints (equivalent to PLN 9.5 million) to a company that wanted to arrange luxury apartments in it, but the transaction failed.

– We recently sold a villa. We managed to come to an agreement with a really decent new owner. I think he is in good hands, we already live in our new apartment – ​​Korda himself told “Blikk”.

The company of a Russian billionaire buys a villa in Budapest

The new owner of the villa is the real estate company Gorod Pro Ltd., owned by dual Russian-Hungarian Timur Rahimkulov. According to Forbes, he ranks eleventh on the list of the richest Hungarians with a fortune of 172.8 billion forints (2.1 billion zlotys).

His father is Megdet Rahimkulov, a Russian oligarch with ties to Vladimir Putinsanctioned by Ukraine.

“Megdet Rahimkulov is an agent of Putin’s influence in Hungary. He and his family engage in commercial activities (have business ties) with Russian organizations that provide a significant source of income for the Russian government, which initiated hostilities and genocide of civilians in Ukraine,” the website wrote. Ukrainian National Agency for the Prevention of Corruption (NAZK).

Oligarch associated with Gazprom and MOL

Megdet Rahimkulov had 10 percent in the 1990s. He owned shares in a joint venture between Gazprom and the Hungarian MOL concern, until 2007 he managed the Hungarian bank AEB, and also owned shares in MOL and the largest commercial bank in Hungary, OTP, which was recently entered by the Ukrainians on the list of international sponsors of the war.

For some time he was also the head of the Hungarian branch of Gazprom. As the NAZK writes, until the return to Russia in 2008 he was the richest resident of Hungary. Currently, he is included in the list of dozens of the richest people in Russia.

Russian billionaires invest in Hungary

According to Hungarian media, Timur and his brother Ruslan own numerous properties in Hungary, they also own shares in the OTP bank. The brothers have recently also considered buying the first-league football team Ujpest.

Timur Rahimkulov is also to build a huge office and residential complex in the 13th district of Budapest on the Danube, on the site of the former Lang machine factory.

Budapest, HungaryIllustrative photoMisterVlad / Shutterstock

“The property is located in one of the most impressive districts of Budapest, it is huge and already divided into separate apartments. It is a very good investment as apartments are currently in high demand, both for purchase and rent,” writes Blikk.

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