YEREVAN, November 20. /ARKA/. VTB Bank (Armenia) reported today on the resumption of the construction of a residential building in downtown Yerevan, called Berd, saying in a press release that a developer Glendale Hills, a borrower of VTB Bank (Armenia), was declared bankrupt in 2015, failing to fulfill its credit obligations. As a result, the construction of a number of buildings, including Berd, was suspended.

VTB Bank (Armenia) said it received an offer from an investor IMC to purchase the building Berd, accomplish the construction and hand the apartments to their owners.

Tigran Astghiyants, head of IMC, thanked the bank for assistance. "Now we have the opportunity to complete the construction of the building on Argishti Street within 7-8 months and hand over the long-awaited apartments to their owners,” he said.

Categories: Banks @en, General news, News, News of the hour, Новости | Comments Off on VTB Bank (Armenia) helps resume construction of residential building in Yerevan

Tags: Armenia, Bank VTB (Armenia), building, CONSTRUCTION, VTB Bank (Armenia), Yerevan

Read more

Armenian National Competitiveness Fund provided with site and building.

Categories: Economy @en, General news, News | Comments Off on Armenian National Competitiveness Fund provided with site and building

Tags: Armenia, building, Fund, Papazian

Read more