The former building of the Foreign Ministry will be transformed into a business center, Argentine Ambassador to Armenia Gonzalo Urriolabeitia told reporters on Monday, July 9.

The government building N2, which formerly housed the Armenian Foreign Ministry, was sold in 2012 for $ 51.27 million to a construction company called Tango, owned by Argentine billionaire of Armenian origin Eduardo Eurnekian.

According to earlier reports, Eurnekian pledged to build a five-star hotel complex, preserving the historical and cultural appearance of the building. Nevertheless, there were rumors back in the time that a museum would be opened in the former Foreign Ministry building.

"Among the new projects of Eduardo Eurnekian in Armenia is the construction of a new business center on the site of the former building of the Armenian Foreign Ministry," Urriolabeitia said, Novosti Armenia reports.

The diplomat, however, refrained from specifying the estimated amount of investments and the possible terms of construction.

He only noted that Eurnekian is the largest investor from Argentina in Armenia, and that the first thing tourists see when arriving in Yerevan are companies operating with Argentine investments - the airport, a bank, the post office, as well as those producing wine and agricultural products.