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

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In 2016 February Armenian banks provided about 113 billion drams as loans to construction sector, which was by 0.1% more than in January

Categories: Banks @en, General news, News, News of the hour | Comments Off on In February lending to construction sector grew by 0.1 percent to 113 billion drams

Tags: Armenia, Banks, CONSTRUCTION

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VTB Bank (Armenia) said today it had provided funding to Strawberry Field company for the construction of a modern energy-saving greenhouse in the village of Nor Geghi in central Kotayk province

Categories: Banks @en, General news, News, News of the hour | Comments Off on VTB Bank (Armenia) finances construction of strawberry greenhouse in Kotayk province

Tags: Armenia, CONSTRUCTION, financing, VTB Bank (Armenia)

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A total of 11,398.5 million drams was invested by the World Bank in Armenia’s construction in 2013, a reduction of 30.3% compared to the year before, ArmStat reported

Categories: Economy @en, General news, News, News of the hour | Comments Off on World Bank invested about 11.4 billion drams in construction in Armenia in 2013

Tags: Armenia, CONSTRUCTION, World Bank

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Armenia’s GDP grew 3.5% in Jan-June 2013, compared with the same period a year before, showing a slower growth than in Jan-June 2012

Categories: Economy @en, General news, News, News of the hour | Comments Off on Armenia’s GDP growth slows down because decline in construction and slow growth in mining sector

Tags: Armenia, CONSTRUCTION, GDP, growth

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Lending to construction companies in Armenian banks’ aggregate outstanding loan portfolio shrank 5.1% in the third quarter, compared with the previous quarter, to AMD 98.6 billion

Categories: Banks @en, General news, News | Comments Off on Lending to construction Shrinks 5.1% to AMD 98.6 billion in Armenian banks’ outstanding loan portfolio

Tags: Armenia, Banks, CONSTRUCTION

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Ameriabank will support a major project in South Caucasus through its trade finance

Categories: Banks @en, General news, News, News of the hour | Comments Off on AMERIABANK to allocate $15 million to co-finance construction of smelter in Charentsavan

Tags: Ameriabank, CONSTRUCTION

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ADB to lend $60 million for construction of bypass roads in Yerevan.

Categories: Banks @en, General news, News | Comments Off on ADB to lend $60 million for construction of bypass roads in Yerevan

Tags: ADB, CONSTRUCTION, ROADS, Yerevan

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Road construction insurance institution planned to be established in Armenia

Categories: Insurance market, News | Comments Off on Road construction insurance institution planned to be established in Armenia

Tags: Armenia, CONSTRUCTION, ROAD

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