Yerevan’s landmark Sport and Concert Complex put up for auction

Yerevan’s landmark Sport and Concert Complex put up for auction

PanARMENIAN.Net - The Karen Demirchyan Sport and Concert Complex (SCC), one of Yerevan’s architectural landmarks, has been put up for action, according to the official website of the Service for the Mandatory Execution of Judicial Acts of Armenia’s Ministry of Justice.

The bidding price for the Complex built in 1983 was set at AMD 19,350,000,000 (around $47 million). According to the website, the auction closes on May 29.

The description of the auction lot says that the complex situated in Yerevan’s Kentron district is a seven-storied building with a total area of 46335.7 square meters and other auxiliary structures and territories. It says that the building was an object of mortgage, Armenia Now reported.

The SCC owners were rumored to have taken out a $20 million loan secured on 75% of the Complex.

 Top stories
The official launch ceremony of the Farm Service Center was held with the participation of the U.S. ambassador to Armenia.
"Those events served the purpose we had set, including the issue of raising awareness of the Armenian Genocide," Vigen Sargsyan said.
“Our people have created their path to ascent through sacrifice, struggle, efforts to voice their righteous case,” Karekin II said.
Artsrun Hovhannisyan was asked to comment on Armenia’s somewhat passive reaction to the acts of aggression provoked by the adversary.
Partner news