"GLEND HILLS" TO CONSTRUCT DWELLINGS FOR SURVIVORS OF 1988 EARTHQUAKE

PanArmenian News
April 20 2009
Armenia

Within the frameworks of the government program aimed at solving the
housing problems of the survivors of 1988 earthquake, "Glend Hills"
company received state guarantees of AMD 2 billion.

Under State Purchase Agreement, the sums will be allocated to
construction of dwelling houses in Lori and Shirak regions, "Glend
Hills" Public Relations Department told a PanARMENIAN.Net reporter,
noting at the same time that the construction work will be carried
in compliance with the company’s high standards.

"The construction is already in process (in Lori region, the foundation
of the housing stock have been laid) and will be completed within
short time-limits. "Glend Hills" company has submitted reasonable
time-limits and terms to the Government and has, as a result, received
state guarantees for the implementation of construction projects,"
the company reported.

Founded in 2004, "Glandel Hills" CJSC is a construction company
implementing various construction projects in Armenia as a reliable
partner guaranteeing long-term cooperation.

The company’s objective is to attract investments in the real estate
sector, ensuring the security of the investors’ sums. The principal
trend of its activities are site construction and development and
sale of private constructions. The company will also focus on the
quality of buildings and their environmental impact.

Winner in the two bids announced previously, the company will build
2836 dwelling and commercial facilities as well as 2047 houses in
Shirak and Lori regions.

In particular, "Glendale Hills" CJSC is to build 536 536 dwelling and
commercial facilities in Spitak, as well as 2047 houses (including
182 apartments and houses in Shirak, 354 apartments and 1821 houses
in Lori). The apartments will be handed over to their owners beginning
2011.

The company’s investments in the project comprise 86 billions Drams.