The opening ceremony of Matenadaran new building will be held at 20-year anniversary of Armenian's Independence Day on September 21. The competition to design the new Matenadaran building was announced back in 1987-1988, and it won an architectural studio headed by architect Artur Meschyan. Construction began, but stopped because of Spitak earthquake in 1988, and resumed only in 2008. The project mainly funded by Russian businessmen and philanthropist Sergey Ambartsumyan (US$ 7.120 million). The second largest investor is Zangezur Copper and Molybdenum Combine (US$ 2.840 million). With 11358 square meters total area 30.5-high Matenadaran building can withstand an earthquake of 9 points. There is a separate depository of precious manuscripts in the building, reading rooms, a department for manuscripts digitization, observatory, 220-seat hall and so on. A new building is only the first phase of the project. At the second phase it is planned to renovate the old building of Matenadaran and make it a museum complex. In the third phase the part of the road connecting Mashtots avenue to Matenadaran will be renovated.

A new hotel complex will be built at the "Republic Square" subway station in Yerevan. The construction is planned for 2011-2014. The government allowed Yerevan city mayor to provide an area of 5850 square meters for new hotel construction site. According to a data provided by the city hall, the hotel will contain conference room, sports and game rooms, beauty salon, restaurant and a cafe. Responsible authorities announced that the hotel will be built based on a number of existing features of the historic city center, which will ensure the integrity of the neighborhood. Hotel will be developed by "Tashir Group" with which the city administration has already signed an agreement. The proposal to build this hotel was made last year, but official discussion started on July 21 at the Yerevan Urban Council meeting. As a result of voting, at a ratio of 24 "for" and 3 "abstained"Counsil approved new hotel development project. It should be noted, that many architects are protesting the project, as they believe that by doing so the city is losing its architectural and historical heritage. But let's don't make premature conclusions and try to see the positive aspects of this project. Such projects are very much important for Armenian investment-hungry economy, they create new jobs, and finally, create new earthquake-resistant buildings. Recall that almost all old historic center buildings of Yerevan must sooner or later be reconstructed because of their poor earthquake resistance. Of course, it's strategically much more correct that the future development of Yerevan and especially its center to be done without further increasing the density of the building and plan new developments on the sites of an old and the most earthquake-dangerous buildings, and as a result gradually gain more and more earthquake-secure capital.

As reported by press-center of Armenian government five small automated hydropower systems will be constructed in Kotayk region by Hov-Khache LTD. The company in 2010 constructed and put into operation Yotnaxbyur-Garni free-flow water line, which supplies with drinking and irrigation water Garni, Gheghard, Goght, Hatsavan, Geghadir and Vokchaberd villages. According to Hov-Khache agreement with the government, it will be allowed to make a deferred payment of VAT upon the import of turbine-generators till September 2014. The cascade of small hydropower systems is planned to put into operation in 2012.

Investment program (Program 1 and Program 2) of "North-South" road corridor was presented on August 10 in Yerevan. According to Press-center of the Ministery of Transport and Communications, total length of the road is about 556 kilometers, which will link the Black Sea and other european countries through Armenia and Georgia. Crossing Armenia's territory from the south to the north (Meghri, Kapan-Goris-Yerevan-Ashtarak-Gyumry-Bavra), the corridor will join the Georgian road. The program funding is divided into separate tranches and government has already signed a US$ 500 million investment agreement with Asia Development Bank. It should be noted, that the first loan agreement was signed on October 12, 2009, the second one this year on May 30. On August 2 the Ministery of Transport and Communications announced a tender for construction works of road sections Yerevan-Ashtarak (11,71 kilometers), Yerevan-Ararat (38 kilometers) and Ashtarak-Talin (42 kilometers). "North-South" road corridor investment program is planned to be completed in 2017.

According to the report issued by State Committee of Real Estate Cadastre of the Republic of Armenia, compared to the last month real estate market of Yerevan get activated. In June 2011 in Yerevan were carried out 4.260 thousand real estate transactions. Compared to the previous month this index increased by 4,8 and compared to the same month last year by 6,8 percent. In contrast to that increase real estate average prices in the capital dropped by 9 percent (June 2010-$US755/ June 2011- $US685). On annual basis real estate prices significantly dropped, but the purchase considerably activated. At a stable economic growth, this fact may lead to a gradual increase in property prices. But today, as prices continue to go down and there is no attractiveness for profitable real estate investment, Yerevan property prices reach the non-speculative equilibrium state. It should be noted, that on an annual basis the largest decline in prices was observed in Arabkir- by 13.5 percent ($US1053/$US912), but the prices in the cheapest district of Yerevan, Nubarashen have even grew up by 0.3 percent ($US394/$US397).