Karen Demirchyan Sports and Concerts Complex to be alienated to “NTAA Investment Group” company
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YEREVAN, AUGUST 13, ARMENPRESS. The Government of the Republic of Armenia approved draft decision of Karen Demirchyan Sports and Concerts Complex alienation.
Armenpress informs that Defense Minister of the Republic of Armenia Seyran Ohanyan noted that the complex, being on Defense ministry balance, would be alienated by 30 million USD to “NTAA Investment Group”company.
According to the Minister, the company is obliged to sign contracts with 99 employees of “Karen Demirchyan Sports and Concerts Complex” non-profit organization with a minimum salary of 55 thousand AMD for at least 6 months within 10 days since its registration, preserve the name “Karen Demirchyan Sports and Concerts Complex” and the orientation of the sports and concerts complex use. “Within 10 years the company must also ensure free organization of 5 events (but not more than of 12 days duration) of relevant significance according to the Republic of Armenia request, as well as the right of the citizens to easement of visiting Tsitsernakaberd unimpeded and free of charge in the sports and concerts complex territory in case of company’s acquiring right to ownership of the territory” Armenpress reports, the Minister stated.
“NTAA Investment Group” aims to reconstruct “Karen Demirchyan Sports and Concerts Complex” by a big investment program, creating a family complex which will not only be the 1st one in Armenia but also in the territory. The latter will include hotels, concert halls, conference halls, restaurants, indoor waterpark etc.
The hotels will have more than 350 rooms of family style. The indoor waterpark will have a surface of 18 thousand square meters. The project is expected to be realized during 4 months.