Armenia’s Foreign Ministry building auction fails

Armenia’s Foreign Ministry building auction fails
March 5, 2013 - 15:33 AMT

PanARMENIAN.Net - The auction for the second section of Armenia’s government buildings (Foreign Ministry building), earlier scheduled for March 5, didn’t take place over the lack of competition among buyers, press service of State Property Management Department reported.

Thus, Tango CJSC owned by entrepreneur Eduardo Eurnekian currently is viewed as the only buyer, with the building purchase deal to be signed by April 30.

On Dec 27, the government of Armenia resolved to yet again auction the Foreign Ministry building with a total area of 14,2 thousand square meters.

As of October 4, the building was transferred to Tango CJSC owned by entrepreneur Eduardo Eurnekian.

The starting price of the building is set at $50,7 million, with the land the building is located on added to the deal. The buyer will have to compensate the building assessment charges, which brings the total cost to $51,3 million.

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