YEREVAN, August 2. /ARKA/. Armenian President Serzh Sargsyan, who is also the chairman of the Council of Trustees of the Association of the Yerevan State University Graduates, attended the opening of the apartment block Avan-3 built under a social program aimed at providing young journalists, doctors, teachers and sportspeople with housing.
“A peculiar kind of a town for young people is being created, and there are already some 1,000 apartments here,” Arsen Karamyan, deputy minister for sports and the youth, said answering ARKA News Agency’s question.
In his words, young families have paid 185,000 drams for one square meter, and this is far lower than the market price.
Mortgage loans were provided to beneficiaries for 20 years at a 10-percent interest rate after they paid 30% of the total price.
Some 338 beneficiaries got apartments in this 48,131-square-meter apartment block. The total cost of the project is 5.864 billion drams. -0----