YEREVAN, AUGUST 31, ARMENPRESS. Armenian renowned benefactor, businessman from the Diaspora Vahagn Hovnanian passed away aged 83. Hovnanian’s family members confirmed the sad news in their conversation with “Armenpress”.  The family members have not yet revealed any details related to death and funeral ceremony. It is known though that the businessman had cancer.

Moving to Armenia during the years of Independence of Armenia he was actively involved in business sphere and his charity programs were aimed at the development and preservation of the Armenian culture, and the development of tourism in Armenia.  

Under his patronage “Vahagni” district was constructed in Yerevan, 1998.