The Hungaroring is a 4.381 km (2.722 mi) motorsport racetrack in Mogyoród, Pest County, Hungary where the Formula One Hungarian Grand Prix is held. In 1986, it became the location of the first Formula One Grand Prix behind the Iron Curtain. Bernie Ecclestone wanted a race in the USSR, but a Hungarian friend recommended Budapest. They wanted a street circuit similar to the Circuit de Monaco to be built in the Népliget – Budapest's largest park – but the government decided to build a new circuit just outside the city near a major highway. Construction works started on 1 October 1985. It was built in eight months, less time than any other Formula One circuit. The first race was held on 24 March 1986, in memory of János Drapál, the first Hungarian who won motorcycle Grand Prix races.
Source: Wikipedia
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