Green Rock Management Group proposes to invest $8.5 mln. in the reconstruction of Yerevan's Circular Park
YEREVAN, January 17. /ARKA/. Green Rock Management Group developer said in a press release that several months ago, it had received a proposal from the Yerevan Municipality to present a project for the transformation and improvement of the Circular Park, known as O4 Green Urban Hub.
To bring O4 Green Urban Hub to fruition, the company has expressed its readiness to invest over 8.5 million dollars. In the event of the project approval, these funds would be allocated for the planning and execution of the initiative.
The primary objective is to restore the Tamanyan project of Yerevan’s Circular Park and transform it into an urban park adhering to international standards. This entails the preservation of all structures with historical and cultural significance, along with the provision of round-the-clock service.
‘We have conducted a preliminary examination of the preferences expressed by the citizens, and prior to finalizing the design, we had plans to facilitate public consultations. This step aims to gather public perceptions on the area and pinpoint the most favored options for the restoration of the park. An international company, possessing expertise in the field, would be chosen to collaborate on the project, with the involvement of local specialists.’ It said.
The implementation of the project is presently under discussion with the Yerevan Municipality, and currently, there is no signed document between the Municipality and Green Rock Management Group.
‘We are closely monitoring subsequent developments and will assess solely the viability of executing this social program for our organization. Additionally, we are exploring the prospects of investing the specified amount in other business projects.
Yerevan Municipality also commented on the situation. Spokesman Hayk Kostanyan noted that the final decision on the project of the 4th sector of the Circular Park d (between Sayat-Nova St. and Nalbandyan St.) has not been made yet.
"At the moment, discussions are underway, after which it will be submitted to the municipality. When the plan is finally approved, we will either implement it or organize public hearings," local media quoted Kostanyan as saying.
According to him, the tennis courts of "Ararat" club on this section of the boulevard do not fit into the new concept and will be moved to another place. There will be two other cafes on the territory instead of the current catering facilities, he said.
Green Rock Management Group is an international developer that implements large-scale territorial development projects. The company is already working on a number of projects in Armenia, including in Dilijan (repair and modernization of a sports school). --0--
