“This project represents the beginning of a new chapter for the economy of Gyumri. By empowering the people, especially the youth and entrepreneurs, with skills and opportunities, we are empowering Gyumri to fulfill its immense promise and potential. The EU is proud to support initiatives that unleash human capabilities and foster sustainable economic development in the regions of Armenia. Last but not least, we would like to thank TUMO and the Municipality of Gyumri for their cooperation and partnership in this project.” said Ambassador Vassilis Maragos, Head of the EU Delegation to Armenia.

The project will revitalize the old market area of Gyumri, which has been abandoned for years. TUMO will oversee the reconstruction of the building. 

Upon completion, the market will be turned into a space that serves as a hub for education, culinary arts, and economic development. 

The hub will also accommodate:

•    Spaces for workshops and other educational events
•    Booths for local vendors to work in secure and hygienic environments
•    Restaurants
•    Shops for artisanal and handmade goods
•    Venue for festivals, concerts, fairs and other events

In addition to EU funding, the project will be supported by the John and Hasmik Mgrdichian Foundation as well as Judith Saryan and Victor Zarougian.

In the upcoming weeks, an international architectural competition will be launched to choose the team responsible for reconstructing the center. Once the team has been selected, construction will begin promptly. The grand opening of the market and culinary school is scheduled for 2026.