INVESTMENT PROGRAMS OF OVER 19 BILLION DRAMS IMPLEMENTED IN ARMENIA IN LAST THREE YEARS

Noyan Tapna
Oct 23 2006

YEREVAN, OCTOBER 23, NOYAN TAPAN. Investment programs of about 19 bln
drams (about 49.2 mln USD) were implemented or are being implemented
in Yerevan in 2003-2006, 50% of which – in the Kentron community of
the city. Deputy Mayor of Yerevan Karen Davtian stated this during
the October 23 press conference.

According to him, in 2006, documents on development of area of a
total of 578 thousand square meters were signed in order to implement
construction work in various spheres. He said that over 100 buildings
are currently being constructed in Yerevan by 40 companies. The deputy
mayor informed those present that construction in the urban development
zones, particularly in North Avenue, will be completed in 2007. The
first stage of constrcution of Main Avenue has been completed,
while the second stage will start after the adoption of the law on
alienation of property for social and state needs. K. Davtian said
that building up of the area adjacent to the circus has already begun,
and the company to implement construction work in the 30th district
has been chosen through a tender. According to him, along with
private investment programs, state programs are being implemented
in Yerevan. In particular, by one of these peograms, in 2005,
a building was delivered for operation in the Ajapniak community:
it accomodated the residents of a 4-degree accident prone apartment
building there. By this program, another two buildings will be put
into operation by late 2006, and two more buildings – in 2007.