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Time in Yerevan: 11:07,   28 March 2024

“Old Erivan” project to kick off in 2016

“Old Erivan” project to kick off in 2016

YEREVAN, JANUARY 27, ARMENPRESS. The Government of the Republic of Armenia intends to implement urban development investment programs in 2016.  “Armenpress” reports that the aforementioned is included in the top priority projects of the Government.

The aforementioned projects are included in the Ministry of Urban Development’s priority issues in connection with state-private sector cooperation in order to coordinate the activities of urban development investment initiatives.

In case the priority issue is solved, it is expected to develop concepts and investment packages of the construction of corresponding areas, including the coordination of negotiation processes with the investors.  

According to the Ministry, consistent coordination of the activities connected with urban development investment programs will have significant impact on the regular course and continuity of their implementation.

It is expected to start “Old Erivan” project in 2016. It is planned to restore Yerevan’s dilapidated historical-cultural buildings on Abovyan-Buzand and Arami- Koghbatsi streets. $150 million was invested by Swiss-Armenian businessman Vartan Sirmakes for the project implementation.








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