"Glandel Hills" to construct dwellings for survivors of 1988 earthquake

PanARMENIAN.Net - Within the frameworks of the government program aimed at solving the housing problems of the survivors of 1988 earthquake, "Glandel Hills" company received state guarantees of AMD 2 billion.



Under State Purchase Agreement, the sums will be allocated to construction of dwelling houses in Lori and Shirak regions, "Glandel Hills" Public Relations Department told a PanARMENIAN.Net reporter, noting at the same time that the construction work will be carried in compliance with the company's high standards.



"The construction is already in process (in Lori region, the foundation of the housing stock have been laid) and will be completed within short time-limits. "Glandel Hills" company has submitted reasonable time-limits and terms to the Government and has, as a result, received state guarantees for the implementation of construction projects," the company reported.



Founded in 2004, "Glandel Hills" CJSC is a construction company implementing various construction projects in Armenia as a reliable partner guaranteeing long-term cooperation.



The company's objective is to attract investments in the real estate sector, ensuring the security of the investors' sums. The principal trend of its activities are site construction and development and sale of private constructions. The company will also focus on the quality of buildings and their environmental impact.



Winner in the two bids announced previously, the company will build 2836 dwelling and commercial facilities as well as 2047 houses in Shirak and Lori regions.



In particular, "Glendale Hills" CJSC is to build 536 536 dwelling and commercial facilities in Spitak, as well as 2047 houses (including 182 apartments and houses in Shirak, 354 apartments and 1821 houses in Lori). The apartments will be handed over to their owners beginning 2011.



The company's investments in the project comprise 86 billions Drams.