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.

According to lenta.ru, Tashir Group opened US$ 120 million shopping and entertainment complex RIO in Yaroslavl. With 70 thousand square meter total area, complex is situated on Tutaevsky road between regions Bragino and Kirovsky. This is the company's sixteenth shopping and entertainment complex, and Tashir Group planned to open another two in Saint Petersburg and Vologda. The complex includes a shopping gallery, a grocery hypermarket, Sportmaster specialized shop, 4-hall cinema, sport and entertainment centers, bowling, billiards, restaurants, 800 parking lots, etc. Tashir Group, one of the largest real estate holdings in Russia, was founded by Samvel Karapetyan in 1999. The Group builds shopping centers, office and residential complexes, warehouses, hotels in Moscow and in other regions. Up to 2011 the company has already built more than 60 commercial propeties with total area 1,2 million square meters. It should be also noted, that RBK's journal June issue included the raiting of the largest developers in Russia. The second place took Tashir Group with US$ 1.73 billion turnover. RBK's rating was based on company's figures, analysts' estimates, as well as their own data.