YEREVAN, APRIL 25, ARMENPRESS. The government authorized the Yerevan City Hall to sign agreements with EMC CJSC defining obligations, rights of the state and the acquirer in the process of alienating the property enclosed in the territory of Abovyan, Buzand, Koghbatsi and Arami Streets in downtown Yerevan.

Deputy Mayor of Yerevan Kamo Areyan said this will enable to finish the implementation of the urban development program.

Private investments will enable to restore the “Old Yerevan” historic-architectural environment in the abovementioned area.

Prime Minister Karen Karapetyan mentioned he has held a consulation over the Old Yerevan program and the urban development of downtown Yerevan, where government officials and the City Hall officials were present.

The PM urged culture minister Armen Amiryan and chairman of the urban development committee Narek Sargsyan to maximally focus on the program.

“We have numerous obligations for potential investors, which for unclear reasons aren’t fulfilled. We have an investor, for whom we have delayed our obligations for more than two years and we are always seeking some arguments as to why we aren’t doing it”, he said.

Culture minister Armen Amiryan reassured the historic-cultural environment of Yerevan will be fully preserved with the Old Yerevan program.

Amiryan told reporters after the Cabinet meeting : “The Prime Minister was referring to the fact that the investor is able to realize his function, and we are able to realize ours, without disturbing one another, while also preserving the historic-architectural environment of Yerevan. We have no issue regarding the environment with this program”.

The program was scheduled to start back in 2015. The investor is Swiss-Armenian businessman Vartan Sirmakesh.