YEREVAN, MAY 22, ARMENPRESS. Tashir Group of Companies finished the acquisition process of the Izvestiya publishing house of Moscow building and began re-construction works, RIA Novosti reported citing a source familiar with the project.

According to the source, a modern multi-functional complex is planned to be created, with nearly 150 million dollars investments.

The facade will remain unchanged, however a new complex will be added with 250 hotel rooms, office spaces, food and retail points.

The president and founder of Tashir Group of Companies is Samvel Karapetyan, the Armenian billionaire with an estimated net worth of 3,4 billion dollars, according to Forbes.