Armenian Government Takes Bold Step: Acquires Unused Public Properties for Renovation and Development

Armenian government decides to acquire public properties for renovation and development purposes in Yerevan. 8 buildings with 4 apartments and 2 properties with 6 apartments will be included. The market value of properties will be determined at 100% of current assessed value, including land value. Implementation of the project is planned within 6 months. Buyer must pay assessed property value. News from Armenia.