YEREVAN, MARCH 11, ARMENPRESS. After three years, the entrance to the capital Yerevan will be adorned with a unique architectural structure: the 'Azatutyun' multifunctional complex, located at 26/1 Azatutyun Avenue. This state of the art complex will be a first in Yerevan integrated with a smart management system, major energy-saving systems and high seismic resistance throughout the structure. The latest in innovative, modern technologies and solutions is being built as part of a large investment program. Armenpress has interviewed David Atanessian, the founder and head of the investment project for the 'Azatutyun' multifunctional complex, to discuss the features of the complex, the investment program and the much anticipated innovations.

 - Mr. Atanessian, how has the idea for this program come about? What is its significance and importance?

- From the outset, our goal was not merely to construct a building, but to create a multifunctional complex with an original design, unique architecture and content. It was meant to reflect both the architectural traditions and history of our thousand-year-old city in line with the modern trends of architecture and construction.

This section of Azatutyun Avenue is very important and strategic for the city of Yerevan. It is considered the gateway to the capital. One of Armenia's interstate roads starts and ends at this point. The complex being built by us will welcome and bid farewell to the city's guests. The first impression upon entering any city is significant; therefore, this area is, so to speak, the face of our capital and the initial impression of our city. Hence, the choice of location is not coincidental.

We had the idea for the complex since 2019, and we acquired the land later that year. However, due to the pandemic, the project's progress was slightly delayed. Nevertheless, during that time, we worked on the development and design of the development’s concepts. We already have the construction permit, and have also started the necessary enabling works and excavation works. The main construction will commence in two months, and the project's completion is planned for December 2026.

That area had not been used since the 1980s and was in poor condition. We aim to introduce a new culture of construction through our activities, from the concept development phase to implementation and after-sales service. As developers, we are responsible not only for constructing a complex with exceptional and modern architecture but also for every phase of project implementation.

The architectural design of the complex was undertaken by the renowned "Storaket" company. The "Storaket" team studied in detail all the structures and architectural heritage of Azatutyun Avenue and its adjacent sections. Consequently, they proposed solutions that are in harmony with the area, complement and enhance the existing structures, highlight the beauty of the architectural heritage and create a harmonious environment.

 The program is quite attractive in terms of foreign direct investments. When the idea of constructing the complex emerged, and we initiated the process of attracting investments, there was significant interest from foreign investors. As a result, the project's investors include renowned international companies such as Green Property Development (Armenia, USA), Artcar Development (USA), First Mortgage Company (Armenia, USA) and Global Capital Investment Fund (USA). These companies and their members possess extensive experience in the construction field, and with their involvement, we aim to bring and localize successful international experience.

The total budget of the project is approximately 12 billion AMD, of which 60-70% constitutes from foreign direct investment. The role of Enterprise Armenia (Investment Support Center Foundation) was significant in establishing the investment plan and for their comprehensive support, we are very grateful. Ameriabank is also one of the project partners, providing partial financing for the project.

Our investment program is significant not only in terms of presenting Armenia as an attractive country for foreign direct investment but also because, upon its implementation and operation, substantial amounts of taxes will be paid to the state budget, and hundreds of jobs will be created following both development and construction phases.

 - Let's discuss the multifunctional complex and the infrastructure currently under construction.

- Firstly it is important to note that the total construction area of the site is 35,000 square meters. Overall, 60% of the entire area will be designated for green recreational spaces. The multifunctional complex comprises of two main buildings: one large and one small. The complex will feature approximately 145 apartments ranging from 58 to 97 square meters. Four of the 17 floors in the large building will be designated for public areas, including exhibition halls, restaurants, cafes, and other entertainment centers. Additionally, a secure parking lot accommodating 170 cars will be constructed.

The second small building will serve entirely as a public infrastructure for offices. We have already given a conceptual direction to the office sector, as we have plans to establish a center for innovation, robotics, computer science and artificial intelligence (AI), fintech startups, science and technology development. In these directions, we are planning to start cooperation with Oxford (Great Britain) and UC Berkeley (USA, California) universities.

We also plan to create an Art space in the connecting part of the first and second buildings, where we will have interesting art installations and landscapes. This is a new and creative culture in the field of construction of multifunctional complexes in Yerevan.

 - What are the features of the multifunctional complex, and how does it differ from other buildings under construction in Yerevan?

The complex is distinguished primarily by its concept and architectural solutions. "Azatutyun" stands out as a premium multifunctional complex. The structure has been designed using exclusive, modern and innovative construction approaches, incorporating the highest seismic resistance foundation.

 The latest generation of energy-saving building materials and constructive solutions are being used in the construction.

One of the most significant features is that the complex will incorporate a smart management system - Building Management System (BMS). This engineering solution represents one of the latest innovations in the construction industry, serving as a recognized model guiding leading countries in constructing the best, safest, most reliable, and modern buildings.

Thanks to BMS, the complex's power supply, water supply, ventilation, fire protection, heating, and cooling systems are completely managed and controlled from one point. The system automatically determines the necessary temperature regime of the rooms and regulates it. For instance, if you are away from your apartment for an extended period, it automatically shuts off the electricity. In case of any water leakage, the system automatically shuts down the water line leading to your apartment. Furthermore, if you are not at home, an alert is sent to your smartphone notifying you of any issues in the apartment, with the BMS automatically shutting down any system as needed. In other words, the complex is designed with a smart engineering concept.

Another important feature is that the apartments will be handed over fitted and finished. The BMS system ensures appropriate engineering installation for each apartment, thus quality of all materials, assembly technologies, and equipment is crucial for the smooth operation of this system. We collaborate with the best and leading suppliers and will introduce and install state-of-the-art technologies, systems, and utilize the latest generation materials.

 - Why and how to become a resident of "Azatutyun"?

 "Azatutyun" is not just a multifunctional complex; it embodies a unique way of life, comfort, and innovation. For our foreign investment partners, this project has been a revelation. "Azatutyan" is in no way inferior to similar complexes being built in Dubai, Los Angeles, New York, or Boston. I am confident that the project will breathe new life not only into the city but also into the construction industry, fostering new cultures and approaches to the industry standard of development. Such investment programs have a positive impact on our country's economy, science, and innovation.

In the case of "Azatutyun", the income tax refund act will be in effect until December 31, 2024. The mortgage lending will be carried out through First Mortgage Company and Ameriabank. Sales conditions will be flexible, we will try to offer special lending products and innovations to our buyers.