The Government of Armenia has recently approved a program for managing the state property of the Republic of Armenia and its subordinate structures. Specifically, a decision has been made to transfer the management rights of a state-owned property located at 3 Avet Avoyan Street in Yerevan to the committee of the Ministry of Economy responsible for managing state property and real estate.

It is worth noting that the ownership right to this property was transferred to the Republic of Armenia in 2023, as per an agreement involving the government, the Committee of the Armenian Revolutionary Federation “Dashnaktsutyun,” limited liability companies “AOKS” and “Ocean Pestic Global Profit Limited,” as well as individuals Gagik Sahakyan and Adela Stepanyan.

Gnel Sanosyan, the Minister of Urban Development and Land Management, revealed that the property covers an area of 701 sq. m and has a market value of 490 million drams.

Nikol Pashinyan, expressing his thoughts on the matter, mentioned that the AOKS building, which holds historical significance, has been temporarily suspended and is now being returned to the Republic of Armenia. He further added that the decision paves the way for the transfer of the building to the committee responsible for managing state property.

This news comes as a significant development in the management of state property in Armenia.