Armenian Foreign MInistry Building To Be Sold To Hotel Chain?

ARMENIAN FOREIGN MINISTRY BUILDING TO BE SOLD TO HOTEL CHAIN?

epress.am
09.23.2011

Armenian authorities intend to sell the buildings that house the RA
Ministry of Foreign Affairs and the RA Ministry of Economy, as well
as the Noyan Tapan (“Noah’s Ark”) stationary supply and book store,
according to local daily Joghovurd (“People” or “Nation”).

Citing well-informed sources, Joghovurd reports that the buildings in
Yerevan’s Republic Square will be sold to the Kempinski luxury hotel
group. There is even talk of the initial value of the complex being
$500 million USD.

The practicalities of the deal haven’t yet been discussed because
the authorities haven’t decided yet to where the ministries currently
housed in these buildings will be relocated.

Head of the State Property Management Department of the Armenian
Government Arman Sahakyan, speaking to the paper, however, refuted
these claims, saying such an issue wasn’t discussed and the authorities
have no such intentions.

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