The building, nestled in the prestigious 16th arrondissement of Paris, carries significant historical weight. Once owned by the late third president of France, Valéry Giscard d'Estaing, it stands as a testament to the rich tapestry of French history. The Armenian government's decision to purchase this property underscores its commitment to preserving and celebrating such historical significance.

The seller has agreed to part with the property for 23 million euros, a figure that, while substantial, is believed to be lower than the building's actual market value. The process of acquiring the building is expected to take between three to four months, during which the Armenian government will make state payments amounting to 7.5% of the building's value to facilitate the transaction.

The funds for this significant purchase will be allocated from the Armenian government's 2024 state budget, with the Ministry of Foreign Affairs receiving the necessary resources to complete the transaction. This allocation reflects the government's prioritization of diplomatic relations and its commitment to strengthening Armenia's presence on the global stage.

The Armenian Minister for Europe and Foreign Affairs, Mr. Ararat Mirzoyan, met with his French counterpart, M. Stéphane Séjourné, to discuss this important development. The meeting served to underscore the strong bilateral relations between Armenia and France and the shared commitment to bolstering these ties further.

As Armenia embarks on this new chapter in its diplomatic history, the acquisition of this historical building in Paris serves as a symbol of the country's enduring commitment to preserving history, fostering strong diplomatic relations, and investing in its future.