Multi-million-dollar redevelopment project unveiled for landmark building in Yerevan’s central plaza

One of the buildings at Yerevan's Republic Square, formerly housing the headquarters of the Foreign Ministry, will be transformed into a multifunctional complex. The building is owned by Corporación América Airports, which operates Armenia’s airports.

“We are pleased to announce that the redevelopment concept for the former Ministry of Foreign Affairs building, located in Republic Square, Yerevan, and owned by Corporación América Airports, was unanimously approved on September 30 by the Scientific and Methodological Council operating under the Ministry of Education, Science, Culture and Sports of the Republic of Armenia,” the company said in a press release.

Developed in collaboration with Foster + Partners, the internationally renowned London-based architecture and design firm behind some of the world’s most significant architectural and urban projects, and Quadrum Architectural Office, a leading Armenian practice with experience in the restoration of historic buildings, the concept envisions transforming the existing building into a mixed-use development combining hotel, residential, office and retail uses, together with new public spaces, the company added.

“The approval follows approximately 18 months of close collaboration between the architectural teams and the Scientific and Methodological Council operating under the Ministry of Education, Science, Culture and Sports of the Republic of Armenia. Throughout this process, the concept evolved through ongoing dialogue, carefully incorporating the Council’s considerations and recommendations, with particular attention given to preserving the building’s architectural and historical significance and its distinctive heritage features,” it said in the press release.

With the concept now approved, the project will move into the next stage of development.

“Our goal is to give this landmark building a new life, preserving its historic identity and its relationship with Republic Square while creating a vibrant, contemporary destination for residents and visitors alike,” said Martín Eurnekian, Chief Executive Officer of Corporación América Airports.

The overall investment program envisages investments exceeding USD 150 million, according to the company.

“Through high-quality architecture and the sensitive transformation of one of the city’s most prominent buildings, the project also aims to become a new attraction for Yerevan and contribute to the city’s growing position as an international cultural and tourism destination,” it added.