$7bn township under construction near Yerevan - report
A township housing business centers worth an estimated $7 billion
similar to the Moscow City complex will be built near the Armenian
capital Yerevan, Radio Liberty reported.
The Noragukh settlement located on the hills will be resettled to create the Yerevan City facility, which requires overhauling a nearby village. $100 million is required to resettle the 1,500 families residing in the area.
Armenia hopes to draw Russian investments to the ambitious project. Yerevan mayor Gagik Beglaryan submitted the project to his counterpart from Moscow, Yuri Luzhkov, while hosting him in late January. Luzhkov is said to have approved of the initiative, pledging to work toward attracting Russian businessmen to the construction of the complex.
"We agreed that my deputy on construction issues, Vladimir Resin, will come here together with a group of investors. They will decide to what extent the involvement of Moscow builders in this project is appropriate. In my view, they will pass interesting decisions on this construction project," Luzhkov said.
According to the mayor, 50 elite buildings will be constructed in an area spanning 184 hectares, with each costing $40-60 million. The facility will house international business centers, shopping malls and up-to-date residential blocks.*
The Noragukh settlement located on the hills will be resettled to create the Yerevan City facility, which requires overhauling a nearby village. $100 million is required to resettle the 1,500 families residing in the area.
Armenia hopes to draw Russian investments to the ambitious project. Yerevan mayor Gagik Beglaryan submitted the project to his counterpart from Moscow, Yuri Luzhkov, while hosting him in late January. Luzhkov is said to have approved of the initiative, pledging to work toward attracting Russian businessmen to the construction of the complex.
"We agreed that my deputy on construction issues, Vladimir Resin, will come here together with a group of investors. They will decide to what extent the involvement of Moscow builders in this project is appropriate. In my view, they will pass interesting decisions on this construction project," Luzhkov said.
According to the mayor, 50 elite buildings will be constructed in an area spanning 184 hectares, with each costing $40-60 million. The facility will house international business centers, shopping malls and up-to-date residential blocks.*
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