REAL ESTATE 64.7% OF ARMENIA’S CAPITAL CONSTRUCTION SECTOR IN JAN-OCT 2008

ARKA
Dec 1, 2008

YEREVAN, December 1. /ARKA/. The mortgage market comprised 64.7%
of Armenia’s capital construction between January and October 2008,
the RA National Statistical Service (NSS) reports.

Capital construction in the mortgage sector amounted to 443.4bln
drams in the past ten months – 37.6% year-on-year increase. Capital
construction in municipal and social services totaled 59.1bln drams
(8.6% of the sector) in the reporting period – 8.8% year-on-year
decrease.

Capital construction in trade, repair of vehicles and household
appliances amounted to 46.8bln drams between January and October 2008 –
9.1% decline compared to the same period last year.

Transport and communications comprised 7.3% of capital construction
(49.6bln drams) – 42.4% of January-October 2007.

During the period under review, capital construction worth 3,887.9mln
drams was carried out in agriculture – 0.6% of the sector. Capital
construction in water-electricity-gas distribution amounted to 27.55bln
drams as of end-October 2008 – 12.8% year-on-year rise.

Capital construction in the hotel and restaurant business rose 1.75pct
to 2,176.8mln drams.

Armenia’s capital construction totaled 685.1bln drams in the past
ten months – 6.9% rise compared to January-October 2007. Building and
assembly operations comprised 13.5% (622bln drams) ($1 – 305.42 drams)