On June 27, the government of Armenia approved a draft resolution recognizing a plot of land covering more than 13,200 square meters between Saryan and Paronyan streets in Yerevan as being of priority public interest.
An urban development program, the "World Trade Center," will be implemented at the Haypost building on Saryan Street in central Yerevan. The project plans to include the construction of conference halls, a cultural venue, exhibition halls, and a business center for startups.
State-owned land plots will be alienated through direct sale. The project aims to foster international and business cooperation.
Earlier, BMG reported that LLC "Renshin" would build a large office-hotel complex, World Trade Center Yerevan, in the center of Yerevan, with investments amounting to $212 million.
As part of the program, conference halls for international forums, concert and exhibition halls, a business center, and a hotel complex with 180 rooms are planned to be built. The total area of buildings and structures will be 123 thousand square meters. In total, 10 thousand people are planned to be employed in the construction.
