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The auction on sale of the Armenian Government building No.2 in Republic Square, scheduled for March 5, did not take place due to the lack of applications, Margarit Sargsyan, Spokesperson of the Armenian State Property Management Department, told ArmInfo.
She said that the second building of the Government with a total area of 14.2 thsd sq m, which encompasses the Armenian Foreign Ministry, Ministry of Energy and Natural Resources and the Ministry of Territorial Administration, was set for an auction at the reserved price of $51,270 mln. She pointed out that according to the agreement reached earlier, in case of a void auction, the building will be directly sold to Tango CJSC owned by Argentinean entrepreneur Eduardo Eurnekian at the reserved price. The agreement with Tango is to be signed before 30 April 2013, Sargsyan said. In line with the agreement, a five-star hotel complex will be built in the place of the second building of the Government, and the outer envelope of the building will be preserved. (Earlier it was reported that a Kempinski hotel would be built here). Sargsyan pointed out that under the agreement the construction will be launched in mid 2015. The dates of the construction completion are not defined yet and will be stipulated in the agreement.
To recall, in July 2012 the Government of Armenia decided to sell the territory of the Justice Ministry building burnt in Feb 2008 to Tango CJSC for $730 thsd. According to the draft decision, the buyer is obliged to build a new public building before 30 June 2015. After the construction the Armenian Government will be given preference to acquire that building. The employees of the specified three ministries are expected to move to that building.
Eduardo Eurnekian also owns Armenia International Airports, the concessionaire of the Zvartnots Airport of Yerevan and Shirak Airport of Gyumri, as well as agricultural processing enterprises, Converse Bank CJSC and Haypost CJSC.