Karen Demirchyan Sport and Concert Complex sale-purchase deal not completed yet
19.11.2015,
12:54
The Karen Demirchyan Sport and Concert Complex sale-purchase deal is not completed yet, David Harutyunyan, the head of the Armenian government administration, said Wednesday at a Q&A session in the Armenian National Assembly.
YEREVAN, November 19. /ARKA/. The Karen Demirchyan Sport and Concert Complex sale-purchase deal is not completed yet, David Harutyunyan, the head of the Armenian government administration, said Wednesday at a Q&A session in the Armenian National Assembly.
The preliminary decision to sell the state-owned complex to NTA INVESTMENT GROUP for $30 million was approved by the government on August 13.
«The contract has not come into force so far, since it is stipulated in it that it will come into force only after payment of the entire cost of the deal,» Harutyunyan said.
In his words, after that the new owner must invest more than $100 million in the bought building within four years.
He said that a hotel, a roofed aqua park, concert halls, restaurants and even e casino are planned to be built on this 8.5-hectare territory.
The company that has bought the complex has Armenian registration, but it has not been involved in commercial activities in the country till now. Therefore, tight terms are set in the contract and full payment is demanded.
The new owner ought to maintain the name and activity focuses of the complex and to allow conducting events at the Armenian government's request throughout 10 years.
The decision to sell the complex sparked criticism of experts and the word of intention to open a casino was considered unacceptable and immoral. ---0----
The preliminary decision to sell the state-owned complex to NTA INVESTMENT GROUP for $30 million was approved by the government on August 13.
«The contract has not come into force so far, since it is stipulated in it that it will come into force only after payment of the entire cost of the deal,» Harutyunyan said.
In his words, after that the new owner must invest more than $100 million in the bought building within four years.
He said that a hotel, a roofed aqua park, concert halls, restaurants and even e casino are planned to be built on this 8.5-hectare territory.
The company that has bought the complex has Armenian registration, but it has not been involved in commercial activities in the country till now. Therefore, tight terms are set in the contract and full payment is demanded.
The new owner ought to maintain the name and activity focuses of the complex and to allow conducting events at the Armenian government's request throughout 10 years.
The decision to sell the complex sparked criticism of experts and the word of intention to open a casino was considered unacceptable and immoral. ---0----
