WILL TURKS BUY ARMENIAN HOMES?

A1+
03:27 pm | May 18, 2009

Politics

Renowned Diaspora benefactor, entrepreneur Vahagn Hovnanian voices
concern that after the opening of the Armenian-Turkish frontier
Armenians will begin selling their homes and lands to Turks.

"I don’t know how the equilibrium or the control can be kept. If they
give a few pennies more, Armenians are sure to sell their houses. We
were hardly able to take back our territories from Azerbaijan. I am
concerned they will cede them to others. This is a serious concern
for me," said Mr. Hovnanian.

"Armenia is hardly seen on the map. Though they have many lands near
our border Turks are attracted by our territories as Kurds will live
on their lands."

Hovnanian’s concern can only be healed after making serious legislative
amendments otherwise Turks can buy houses in Armenia in the same way
as American, Chinese and other nationalities do. Why not?

A1+ observed that some 40 thousand Armenians are working in Turkey
now. This allows Erdogan to threaten them by exiling from the country.

"One should work honestly wherever one is. Bravo to all people who
earn their living by the sweat of their brow and send money to their
families. We must kiss their foreheads. No matter where one is –
in Turkey, Moscow, USA or somewhere else, he must earn his living by
his sweat," noted the noted entrepreneur.

Vahagn Hovnanian agrees to the frontier opening without any
preconditions. At the same time, he reminds that recently Turkey has
started setting prerequisites. He fears that Armenia’s economy cannot
resist the pressure of the Turkish market.

"The law must be the same for everyone. Everyone must be given equal
footing," announced Mr. Hovnanian meaning oligarchs enjoying monopoly
and different privileges.

With regard to the global economic crisis Mr. Hovnanian said "things
will continue to worsen for a little while, and then the situation
will begin to better."

50 years ago Hovnanian set up his own business-construction and has
been engaged in it ever since. The businessman has come across an
economic crisis for 12 times but this one is the toughest, he says.

After the rapid depreciation of the Armenian dram, Hovnanian’s business
sustained a loss of 23-24 percent.