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EOC President: Presence of Armenia at inaugural European Games in Baku demonstrates how sport can give a lead to politicians

Elmar Mammadyarov: Azerbaijan will settle Nagorno Karabakh conflict in any case

Edward Nalbandian on Riga Summit: Armenia's Expectations Delivered

Aliyev: Azerbaijan Aspires to Resolve the Armenian-Azerbaijani Conflict over Nagorno-Karabakh in Accordance with International Law

Armed forces of Azerbaijan fired over 3,500 shots at Karabakh positions on May 17-23

Azeraijan's vetoing the Riga Summit declaration was a senseless and shortsighted step, Martin Schulz says

Russia and Azerbaijan to Discuss Settlement of Nagorno-Karabakh Conflict

Edward Nalbandian: Azerbaijan again Left Isolated in Respect of Support to the Mediation Efforts by the Co- Chairs of the Minsk Group

Armenian National Congress calls on the citizens to join the campaign against rising energy costs on May 27

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"Rusastanyan 20" and "Rusastanyan 35" Beeline services available for postpaid subscribers

American Congressman: Menace of Terrorism and Radical Islam might Unite Armenians and Azerbaijani

Diplomatic source: Final declaration of Riga summit should be a consensus document that would refer to the views of Armenia and Belarus

"No to Robbery" to hold a motor rally on May 23

Belgian prime minister says Armenian Genocide did happen and no one in Belgium thinks differently about it

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"Eastern Partnership" Declaration Unanimously Adopted with only UN Countries Endorsing the Wording on "Annexation of Crimea"

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President of Armenia: Nagorno Karabakh has no relation whatsoever to Azerbaijan's territorial integrity

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Ara Nranyan stresses the need to avoid unreasonable stimulation of import and regressive closure of markets

The Number of Operating Air Carriers in Armenia Decreased from 35 to 27 since the "Open Skies" Policy Implementation

30 people interrogated under case of attempted assassination of Syunik Governor

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Armenian-German Forum has been Launched in Bundestag

Ashot Ghulyan Re-elected as Speaker pf Artsakh Parliament

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Azerbaijan Trying to Hinder the NATO Seminar in Yerevan

Armenian Government Endorsing a Draft Document with Microsoft

German Chancellor says Germany respects Armenia's point-of-view

Human rights defender: To fight tortures of suspects, legislative reform is needed in Armenia

Polish MP says friendly relations with Armenia have always been important to Poland

Oppositionist slams Prosecutor General for concealing Syunik Governor's crimes

Armenian delegation participates in NATO Military Committee meeting in Brussels

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Shootings Towards Syunik Governor's Car

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Sports and Concerts Complex falls in price

  • by Karina Manukyan

  • Wednesday, June 18, 09:14

The Karen Demirchyan Sports and Concerts Complex in Yerevan has been put up to auction again. 
Now the starting price of the lot is 15,673,500,000 AMD. In early June 2014 the starting price was 17,415,000,000 AMD, and in May 2014 - 19,350,000,000 AMD.

Neither of the auctions took place due to the lack of applications. Applications for the third auction can be submitted from June 17 to June 27. 

Earlier the Judicial Acts Compulsory Enforcement Service of Armenia (JACES) reported that in accordance with the order of enforcement submitted to JACES by the fist instance court of Kentron and Nork-Marash administrative districts, over 10.207 billion AMD was to be collected from the Karen Demirchyan Sports and Concerts Complex in favor of the Republic of Armenia. The debtor's property appraisal was examined on 15 April 2014.  

In the meantime, on May 21 the PR Department of the Sports and Concerts Complex disseminated a statement saying that the e-auctions launched by JACES were "illegal". The company disagreed with the market price (25.8 billion AMD) estimated by Best Realty LLC registered in the offshore zone in Panama. 

The Karen Demirchyan Sports and Concerts Complex accuses JACES employees of office abuse, because the court's verdict has not yet come into force and is currently being considered by the Court of Appeal.    

To note, the total area of the Complex (built in 1983) is 46335.7 sq.m., exclusive of the subsidiary facilities.  In 1985 the building of the Complex was damaged by a fire and opened only after renovation in late 1987. The building was renovated by BAMO construction company (Russia). 

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