Kempinski branded luxury residential complex will be built in Armenia, the project cost is more than $200 million

YEREVAN, July 7. /ARKA/. The Artlife Kempinski Residences Yerevan complex under the international Kempinski Hotel brand will be commissioned in Armenia in early 2025.

Levon Kasparov, operational director of Renshin Urban Investment, told a press conference on Friday that an agreement was signed with Kempinski Hotel on branding the Artlife residential complex.  

"There is no such branded complex in Armenia, and there is only one in the CIS. A branded complex is a single infrastructure, an area in the city, where services and functions are brought into full compliance with the standards and quality of an international brand," he explained.

Kasparov said that Kempinski Hotel brand will take over luxury management of the ‘five-star’ complex after its commissioning.

According to him, the appearance of a branded complex in Armenia is a new criterion of construction, leisure, lifestyle and management.

"The presence of this branded complex in Armenia will provide certain publicity to the country in the international market," he said.

Kasparov told ARKA News Agency that the total budget of the project is estimated at 80 billion drams (about $207 million); the financial partner of the project is Ardshinbank.

Development Director, Chairman of the Board of the Kempinski Hotel Group Christophe Pifareti stressed in his turn that Artlife will become the center of a new lifestyle in Yerevan.

"People, who will live in this complex, will be able to use all the infrastructure of a five-star hotel in a family environment," he said.

Pifareti said Kempinski, which has a 125-year history, now has 84 different complexes around the world, including 20 residential complexes.

Ani Mavyan, head of project management at Renshin Urban Investment, drew attention to the fact that the public area of the complex will be open to all, who will be able to visit restaurants, coffee houses, bars, culture and art centers of the complex that will also provide infrastructure for the development of design, beauty and art .

The multifunctional complex of 4 buildings with an area of 100,000 square meters will be built at 107, Teryan Street. It will have 285 apartments, most of which have already been sold out. --0--