One foreign company makes a bid for Armenian hotel
06.12.2019,
16:09
Armenia's State Property Management Committee is hopeful that the Golden Palace hotel in the resort town of Tsakhkadzor will find a buyer through an auction before the end of the year, the daily "Zhogovurd" said.
YEREVAN, December 6. /ARKA/. Armenia's State Property Management Committee is hopeful that the Golden Palace hotel in the resort town of Tsakhkadzor will find a buyer through an auction before the end of the year, the daily "Zhogovurd" said.
The hotel was owned by Armen Avetisyan, a former chief of Armenia's customs service. He offered to donate it to the state last November after the National Security Service (NSS) moved to prosecute him for illegal entrepreneurship and money laundering.
The daily says although only 12 days remain before the auction, only one foreign company submitted a bid. The hotel is a complex of buildings on 19,758 sq. meters with 3,257 units of property and a land area of 1.38 hectares.
Narek Babayan, the head of the State Property Management Committee, told the daily that the advance payment is 376 million drams, about 5% of the estimated cost of the hotel. ($1 - 477.94 drams). -0-
The hotel was owned by Armen Avetisyan, a former chief of Armenia's customs service. He offered to donate it to the state last November after the National Security Service (NSS) moved to prosecute him for illegal entrepreneurship and money laundering.
The daily says although only 12 days remain before the auction, only one foreign company submitted a bid. The hotel is a complex of buildings on 19,758 sq. meters with 3,257 units of property and a land area of 1.38 hectares.
Narek Babayan, the head of the State Property Management Committee, told the daily that the advance payment is 376 million drams, about 5% of the estimated cost of the hotel. ($1 - 477.94 drams). -0-
