Building of Ministry of Transport of Armenia will be alienated at the classical auction for $ 27 million

ArmInfo. The building of the  Ministry of Transport, Communication and Information Technologies of  Armenia will be put up for sale. The Armenian government approved the  decision on August 3 in the number of issues that are not discussed  at the meeting of the Government.

The building of the Ministry of Transport, located at Nalbandyan 28,  will be alienated at the classical auction. The area of the building  is 7,8 thousand square meters, preliminary cost -13 223 400 652 AMD  (about $ 27 million). The potential buyer will be obliged to pay the  cadastral value of the land plot - 151.239.348 AMD.

Earlier, at the end of 2016 the head of the State Property Management  Arman Sahakyan stated at a press conference that the building of the  Ministry of Transport, put up for auction for $ 28 million, did not  find its buyer. The Armenian government planned that the building  would be alienated at a classical auction and valued at 13.2 billion  AMD. According to Arman Sahakyan, the auction was to be held at the  Auction Center of the Office on November 14, but due to the lack of  buyers, the auctions did not take place. As explained by the head of  the Office, the building of the Ministry of Transport was put up for  public auction in order to exclude further gossip about possible  patronage. Answering the remark that the price of the whole building  in the center of the Armenian capital (the Republic Square) was  equivalent to the cost of one store, Sahakyan asked: "I do not think  there is a store in Armenia worth $ 28 million" Explaining that the  cost of a square meter was estimated at $ 3.5 thousand, the official  noted that the Government had concluded a similar deal by selling the  old building of the Foreign Ministry of the republic. "I do not think  that the market value of this property is higher than the price set,"  he said.

Commenting on the possibility of acquiring the building of the  Ministry of Transport Argentinean businessman of Armenian origin  Edurado Ernekyan, who is also a buyer of the old building of the  Ministry of Foreign Affairs in the person of Tango Company, Sahakyan  noted that the latter did not show interest in buying the building of  the Ministry of Transport. "In any case, I believe that if we manage  to implement the deal in connection with the building of the Ministry  of Transport of Armenia, this will definitely become one of the most  important and successful deals for our country," concluded the head  of the State Property Management Department of Armenia.

The current building of the Armenian Foreign Ministry, located in the  center of Yerevan on the Republic Square, was sold by the decision of  the government of the country for $ 51.3 million to CJSC Tango, owned  by the Argentinean businessman of Armenian origin Eduardo Ernekian.  Earlier it was expected that a five-star hotel of the Kempinski group  would be established at the Foreign Ministry's site. The government's  draft decision specifies, in particular, that the buyer undertakes to  invest in the required amount and turn the Foreign Ministry building  after reconstruction into a five-star hotel of the world- famous  international brand, while preserving the external appearance of the  building. Eduardo Ernekian owns the company "International Airports  of Armenia", CJSC "Conversbank", the businessman also implements  major projects in the field of agriculture.