As part of the largest-scale cultural investment of the last one hundred years, six institutions will be given a venue in five new iconic buildings designed for the Museum Quarter to be located on Ötvenhatosok tere (Fifty-sixers’ Square). The City Park will also be developed in tandem with the construction of the museums, which thanks to this comprehensive development will be added to the world’s tourist maps as a world-standard, attractive, cultural and recreational quarter of the city and as a unique cultural destination for all the family. The public collection complex will contain the Museum of Ethnography, the Hungarian Museum of Photography, the New National Gallery – which will be built to house the merged collections of the Museum of Fine Arts and the Hungarian National Gallery –, the Ludwig Museum – Museum of Contemporary Art, the Hungarian House of Music, and the Hungarian Museum of Architecture. An international architectural competition will be announced for the new buildings and the museums will first open their doors in 2018. The significance of the new national public collection complex on Ötvenhatosok tere can only be properly appreciated if compared with the Millennium building projects of old. This development project will provide the opportunity to preserve and promote our national cultural identity through the establishment of an institutional environment set in a park. According to plans, the development of over 70 billion forints calculated at current prices, will be implemented with funds available in the European Union’s next budgetary cycle, starting in 2014.