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Investment project to construct the area adjacent to free economic zone

Project Description.    The project aims to create an appropriate environment in the area adjacent to free economic zone for living, working and leisure. In the mentioned area the first free economic zone in Armenia has been functioning since August 2013 in two areas: high technologies and production of new technologies.
The project will result in construction of multifunctional complex in the mentioned area, where a technological research and development zone, residential buildings, educational and cultural institutions, business centers, shopping centers, leisure and entertainment centers will be built.
Within the investment project it is planned to construct residential buildings, public service and commercial centers, as well as to organize a mixed construction. The area covers 464.5 hectares.



Technical Data.   Construction of residential building groups
It is planned to build a block with three high-rise residential buildings (about 67.3 hectares) and block with houses (about 26.5 hectares).


Public service and trade centers
According to the zoning project it is planned to construct 5-9 storey commercial centers in the area of 22.1 hectares. It is planned to build department stores, restaurants and cafes, service centers for primary services, shopping centers, etc. According to the zoning project for the development of public activity multifunction centers (about 24 hectares) it is planned to build museums, galleries, libraries, art centers, health center, private offices, financial and insurance institutions, hotels, entertainment, retail shops and catering centers.

Mixed construction
Within the mixed construction project it is envisaged to build about 30 buildings of 5-15 story for residential and public purposes. On the first floors of the residentianal buildings and on the adjacent areas it is planned to construct business centers, service centers, cafes and/or restaurants.



Project Deadlines.   Project implementation duration is 3 years. It is possible to split the implementation of the project into phase.



Project Cost. Project cost depends on the design solutions.



Investment Type and Fundamental Terms.     The project will be implemented with the involvement of private investment. Yerevan Municipality will assist the investors in providing information about the legal status of land acquisition documents necessary for project implementation. Yerevan Municipality will assist in the preparation and organization of the project activities.



Present Data.    The construction sketch-design prepared by «Yerevan Project» CJSC is available.

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