Hovhannes Mutafyan: uncertainty prevents people from buying real estateJuly 1, 2009 - 19:50 AMT PanARMENIAN.Net - The situation will improve if the population realizes that the crisis is coming to an end, Hovhannes Mutafyan, chief architect of Elite Group building company, told PanARMENIAN.Net "With construction of the Northern Avenue, people got inspired by the possibility of attracting new investments and creation of job opportunities," he said, adding that the loans granted by the EBRD will be spent for accomplishment of a number of projects. "Many projects were frozen because of the crisis," he said. "As to the Northern Avenue, it was justified from economic viewpoint but failed as a dwelling project." Mr. Murafyan also informed that Elite Group is building a hotels in Dilijan, Sevan and Aghveran. "Construction is a business. If you build you should sell. But people who have money refrain from buying real estate because they are not sure what will happen in future. Anyway, I am an optimist and I hope that the situation will improve," he concluded. Top stories Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”. Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision. The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision. Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion. Partner news | Russia provides info about arrested Armenian ex-MP Russian law enforcement agencies have provided information about the arrest of Tigran Urikhanyan. Lemkin Institue slams Pashinyan's “cryptic engagement with Genocide denial” The Lemkin Institute is alarmed over Pashinyan’s statements “questioning Armenia's legal basis to pursue justice against Turkey”. 41 detained as antigovernment protests continue in Yerevan 41 people were detained in Yerevan as people demanding Pashinian’s resignation stage campaigns of civil disobedience. Armenia votes for UN resolution granting Palestine new rights The U.N. General Assembly voted by a wide margin on May 10 to grant new “rights and privileges” to Palestine. |