According to “Joghovurd” newspaper, Vanagavan Hovhakimyan, a former journalist and the current President of the Central Election Commission, has been involved in both the municipal elections in Yerevan and real estate affairs. In early 2023, Hovhakimyan declared ownership of three properties and one undisclosed property, including two apartments, one under construction, and one commercial property. These properties are located in the Ajapnyak administrative district of Yerevan. He also received a gift from an undisclosed source in 2020. It is worth noting that Hovhakimyan is known for his honesty and responsible handling of gifts.

In 2023, Hovhakimyan received another property as a gift from Hakob Mikayelyan. Additionally, he gave another undisclosed gift in 2023 to Hakob Hakobyan, which was not listed in the real estate register.

In terms of transportation, Hovhakimyan announced his purchase of a Nissan car manufactured in 2012 for 2 million drams in 2021.

Hovhakimyan’s declared deposits in banks amount to 100,000 drams, while the balances of his bank accounts total 19 million 455 thousand drams and 6 thousand US dollars. He has also declared cash amounting to 1 million drams.

In 2023, Hovhakimyan’s income from work amounted to 38 million 301 thousand drams, with 20 million drams coming from loans. The remaining balance of loans and conversions is 18 million 999 thousand drams, of which 15 million drams is the mortgage principal. However, it is worth noting that if his income was used to build an undeclared property, it could be considered a gift to the builder.

Hovhakimyan’s salary as the President of the Central Election Commission is 17 million 767 thousand drams, and he also received 534 thousand drams from other municipal contracts.

It should be mentioned that when Hovhakimyan was the head of the SRC in 2021, his annual income was 7 million 437 thousand drams, and his undisclosed real estate assets were already known due to his public statements.

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