Armenia’s president tours housing construction site in Yerevan

The construction is carried out under a social support program by the Association of Yerevan State University Alumni to provide housing to young specialists. 

Construction of Zeytun 1 complex consisting of two buildings with 292 apartments started in May 2010 and is due for completion in June 2015. The total build-up area is 38,400 square meters. Per square meter housing price is 185,000 drams, and total construction costs are 5.3 billion drams. 

Construction of Zeytun 2 with 134 apartments commenced in April this year and will be completed in November 2017. The total build-up area is 25,000 square meter. Per square meter cost is 270,000 drams. 

Total construction costs amount to about 4.2 billion drams. 

“It has become a good tradition to commission about 300 apartments every year,” said the deputy minister of sports and youth affairs Arsen Karamyan. In August 2014, Avan 3 residential complex was commissioned with 338 apartments, a towerblock complex in Kanaker-Zeytun will be handed in two months, he said. 

In ten months the largest residential complex of 490 apartments will be commissioned in Avan community, he said. 

If the construction pace is maintained, a total of about 2,000 social apartments will be built under the program, Karamyan said. 

The total cost of the program exceeds 38.3 billion drams. A total of 1,795 apartments will be provided to young specialists in journalism, healthcare, sports, culture, public service and IT at prices below the market costs. Three residential complexes have been already commissioned, and another four will be handed by the end of 2017. –0—