Ownership of Armenia’s foreign ministry building to change in 2016

Ownership of Armenia’s foreign ministry building to change in 2016

YEREVAN, January 30. /ARKA/. The ownership of Armenia’s foreign
ministry building will change in 2016, head of the state property
management department Arman Sahakyan told reporters on Friday.

The building was sold to Tango Ltd belonging to Armenian Argentinean
businessman Eduardo Ernekayn for 51,270,840 dollars under a government
decree of 2012.

According to earlier reports, a five-star Kempinski hotel was expected
to be built in the place of the building.

During 2016 the foreign ministry is expected to move to a new building
and hand over the old one to Tango, Sahakyan said.

The current foreign ministry building was built in the 1940’s. Its
total space is 14,241.9 square meters. The government said the buyer
had to commit to invest as much as required to remodel the building
into a five-star hotel, yet preserving its historical and cultural

According to the government decree, the buyer is obliged to build a
new building where the ministry of foreign affairs, the ministry of
energy and natural resources and the ministry of justice will be

Eduardo Eurnekian is the owner of Armenia International Airports, the
operator of Zvartnots airport in Yerevan. The businessman is
implementing major agricultural projects and is the stockholder of the
Armenian Conversebank. -0–


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