The Armenian government announced a decision today, December 14th, regarding the acquisition of public property. This decision focuses on 8 buildings located in Yerevan, specifically on Kentron, Vardanants street. These buildings consist of 4 apartments and properties that are currently not being utilized for their intended purpose. Additionally, there are 2 properties in the same area that contain 6 apartments and were previously part of an institutional building, also not currently in use.

The proposed project aims to acquire these unused properties with the purpose of renovating and developing them. The market value of these properties, including the value of the land, is set at 100% of the assessed value at present. The initial phase of the market development project is scheduled to be completed within a 6-month period without any reduction in the market value. The buyer will be responsible for paying the amount determined by the assessment of the property value.

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