Foreign Ministry Building Sold

Foreign Ministry building sold

YEREVAN–The sale of the Armenian Foreign Ministry building was finalized Thursday. The price tag: $51,360,000. The new owner: Argentine-Armenian businessman Eduardo Eurnekian, who also owns the Yerevan Zvatrnots International Airport.

Sources indicated that the building’s interior will be refurbished and converted into a luxury hotel, while the its historic exterior will remain intact.

An official statement said the company is also obliged to construct a new Foreign Ministry building elsewhere in downtown Yerevan by September 2015. The Armenian government will pay for the construction with proceeds from the sale, it added.

The government declined to specify the likely cost of the construction work. “I can’t tell you a concrete price,”Arman Sahakian, head of a government agency managing state-owned properties told RFE/RL’s Armenian service ( “But I think that it cannot exceed or equal the price at which we are selling the building.”

According to another government source, the new government building will accommodate not only the Foreign Ministry but also the ministries of energy, local government, justice and Diaspora affairs.

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  1. Avery said:

    so what’s the problem ? A luxury hotel in a prime location of Yerevan proving employment and generating tax revenue for the State.

    Foreign Ministry does not have to be on Republic Square.

  2. ARA said:

    I don’t think he was in the deal… because Mr. Eurnekian is a shrewd bussines man … people like mr. Nalbantyan come and go…I wonder if he was the only bidder?

  3. george koloian said:

    Shame on you Asbarez… I am going to cancel my subscription. Your news content is playing in the hands of Azeri government as a propaganda tool against Armenia. The good name of ARF of our grand parents has been violated by idiots like you.

  4. Pingback: Prédio do Ministério de Relações Exteriores é vendido ‹ Portal Estação Armênia

  5. Edward Demian said:

    Big deal. So what. The building will not be taken to Argentina, and the Armenian economy has 50 million more dollars. Sell more buildings. Quickly!

  6. Sevag said:

    Is that all it takes to buy out a government building? Maybe we should start collecting money after the Syrian-Armenian fundraisers are over, buy out all government building and get rid of corruption once and for all.

  7. Vahan Vanagan said:

    It is suitable to have a luxurious hotel here at this square.
    I would say, it is a very cheep price.
    I would estimate 200 million.
    Vahan Vanagan

  8. GB said:

    Did Edward get %10 commission out of this sale!! It seems to me, he is securing the paid money into his Italian tailored suit pocket!!

  9. ghevont said:

    I have a question, did they sale all the staff along with the building?.. it was much better to sale all along with the non active and bureaucrat minister.. just have a look at the Armenian embassies along the world, not working at all, thanks

  10. levon sanosyan said:

    Why does not Eduardo Eurekian also purchase this idiot Nalbandian and ship him out of Armenia.

  11. Robert said:

    Armenia could lead in areas such as pharmaceuticals(making generic drugs) , defense industries, and possibly in health-related technologies if it can foster an environment where the diaspora can invest safely without loosing money .They need to get control of the corruption before they can promote more investment. No other country in the Caucuses has similar capacities. If India can make pharmaceuticals, why can’t Armenia. Indians are not smarter than Armenians.

  12. haycomment said:

    “and the Armenian economy has 50 million more dollars.”

    You really think the money goes to the state economy? Pleeeaze.

    Look at the picture, it’s most likely truthful! :)