YEREVAN, December 27. / ARKA /. The Armenian government has decided today to announce a tender for sale of a building in downtown Republican Square that houses the ministries of foreign affairs and Diaspora.
Earlier, on October 4, it had given green light to selling the building to Tango Company for $51.271 million. Tango is owned by Argentinean-Armenian businessman Eduardo Eurnekian.
Earlier this year the Kempinski Group of Hotels said it signed contracts to manage a five-star hotel in Yerevan that would be housed in the foreign ministry building. It said the five-star hotel in Yerevan, scheduled to open in 2013, will offer 150 spacious and elegantly decorated rooms and suites.
Aramn Sahakian, head of a government agency in charge of state-owned property management, said today the original decision was reversed in view of high public attention towards the deal. He said the decision to hold a tender was taken to make it more transparent.
He said the tender which can be announced within three months, will be open to any legal or natural person. Sahakian said Tango did not ask to cancel the sale of the building to it.
"We will conclude a preliminary agreement with it on condition that if a company offers a larger amount the building will be sold to it. If not, the process of negotiations with Tango will continue", Sahakyan explained.
The building was built in the 1940's. Its total space is 14,000 square meters. The government says the buyer must commit to invest as much as required to remodel the building into a five-star hotel by preserving its historical and cultural appearance.
Eduardo Eurnekian owns Armenia International Airports, which operates the Yerevan Zvartnots airport. He also produces agricultural products and shares in Conversebank. -0-