Hovnanian International Company Builds Detached Houses Of New Type –


Noyan Tapan
Sep 24, 2008

YEREVAN, SEPTEMBER 24, NOYAN TAPAN. "Townhouses" of a new type are
being constructed in the Vahakni residential community on the outskirts
of Yerevan. As Lilit Martirosian – the CEO of Hovnanian International
company implementing this project – stated at the opening ceremony of
a detached house, there are six models of townhouses with different
areas: the smallest house has an area of 122 square meters, while
the largest one occupies 172 square meters.

Bishop Ter-Anushavan Zhamkochian blessed the newly-built houses and
wished success to the familiy of Vahak Hovnanian – the founder of
Hovnanian International, famous U.S. businessman of Armenian origin.

The head of Yerevan’s Ajapniak district Ruben Hovsepian thanked the
company for building such a beatiful residential community in their
district and for assisting with solution of a number of problems,
including the problem of greenery planting.

"Let your work rather than you speak," Vahak Hovnanian stated in his
short speech.

After the end of the official part of the ceremony, those present had
an opportunity to become acquainted with several townhouse models. It
was announced that the company will continue building such houses.

The event included various attractions and entertainments.

Hovnanian International was founded in 1998 by Vahak Hovnanian with
the aim of housing and industrial real estate property development in
Armenia. It is planned to have 700 detached houses and 2,300 apartments
based on unique architectural solutions along with special city
amenities and infrastructures in the Vahakni residential community,
which was designed and built by the company and is located 11.6 km
from downtown Yerevan. It is envisaged constructing a modern trade
center in the community in the near future where local and foreign
companies will have the opportunity to open their shops and offices.

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