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France-Artsakh Friendship Circle supports OSCE Minsk Group's charges against Azerbaijan

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One more concert on sidelines of Edgar Oganesyan-Fest in Yerevan

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President of Turkey calls for opening archives and submitting Genocide issue to historians

The Pan-Armenian Declaration On The 100th Anniversary Of The Armenian Genocide Promulgated

New appointments at VTB Bank (Armenia)

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Action of protest held in front of OSCE Office in Yerevan

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Well-known actor Vardan Petrosyan sentenced to 5 years in jail

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Small business representatives heading towards president's residence protesting against Law on Turnover Tax

Azeri raiders convicted in Artsakh apply to Court of Appeal

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Francois Hollande calls on Turkey to dispel stereotypes and recognize Genocide of Armenians

Armenian armed forces rebuff a new Azeri sabotage attack on the border in Tavush region

Armenian delegation to PACE voices issue of Armenian Genocide in Ottoman Turkey

Small HPPs constructed on rivers to get green passports

Verdict on "Perincek vs. Switzerland" case will be announced within 6-8 months

Official Stepanakert thinks extradition of Dilham Askerov may not be debated

OSCE Minsk Group co-chairs voice their concern over growing tensions in Karabakh conflict zone

Eduard Sharmazanov: "OSCE MG's latest statement was unprecedented, as the mediators took Baku down a peg for the first time ever "

President of Armenia: "Artsakh's right to live in freedom is undisputable"

Artsvik Minasyan: Any integration is senseless for unreformed economy of Armenia

Armenia's Energy Ministry plans to sell part of Nairit Plant's assets

Armenian Defense Minister: Transfer of Valery Permyakov to Armenian law-enforcers was not discussed at the meeting with Arkady Bakhin

Expert: Armenian law-enforcers are not involved in Permyakov case investigation to full extent

British Film Festival 13th Love Edition to kick off in Yerevan on Feb 14

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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