Friday, June 13 2014 18:25

VTB Bank (Armenia) to provide 8bln AMD for project to build hotel complex in Yerevan


ArmInfo. VTB Bank (Armenia) will provide 8bln AMD for a project to build a hotel complex in Yerevan. The complex will consist of apartments, offices, outlets, restaurants and a fitness center.

The construction will be carried out by D&H Group and will be finished in 2016.

The concept of aparthotel is widely applied in the world's megalopolises but is just beginning to develop in the CIS. In Armenia this type of service was first introduced quite recently.

"This project will create new jobs during and after the construction. This is a new type of hotel service in Armenia and we hope that it will boost the development of hotel business in Yerevan. I am sure that this complex will please the city's guests," says CEO of VTB Bank (Armenia) Yuri Gusev.

According to the Financial Rating of Armenian Banks by the Agency of Rating Marketing Information (ArmInfo), VTB Bank (Armenia) is among the top 3 Armenian banks in terms of economy lending in general and construction financing in particular.

To note, "D&H Group" LLC was founded in 2006 to implement the Dalma Plaza project. In 2013 the company was purchased by Logicon.

To note, VTB Bank (Armenia) CJSC became a member of VTB Group in April 2004. VTB Bank OJSC, the second largest bank in Russia, owns 100% of shares of VTB Bank (Armenia). The latter has the largest branch network in Armenia (67 branches).
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