YEREVAN—The historic building housing Armenia’s Foreign Ministry and other ministries will be auctioned months after the government announced its sale to Argentinean businessman Eduardo Eurnekian, announced the government’s press service on Thursday.
The government reported in October that it had sold the building to Eurnekian for a reported more than $51 million. At the time the government announced that the building be converted into a luxury hotel. The October statement also said Eurnekian’s company was 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.
Head of the State Property Department Arman Sahakian on Thursday said that the government has reconsidered the sale and in what he termed as a government effort for more transparency, the building will be auctioned to the highest bidder, reporter the Beijing-based Xinhua News Agency.
Sahakian also refuted reports that Eurnekian was backing out of the deal, saying that he would be able to participate in the auction, if he chose to.