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 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).

Reconstruction works in Yerevan circus will begin on August 1, said the circus director Hovhannes Gasparyan during press conference on July 24. He also added, that the whole repair budget will cost US$ 10 million. During a 2-year reconstruction it's planned to completely renovate circus building, install modern ventilation and heating systems, build a separate housing for the animals. It is also planned to upgrade the technical base of the circus and to increase sound and voice capabilities. The final performance of old circus will be held on July 31. Back in April, Yerevan mayor Karen Karapetyan signed an agreement with director of "Tashir Group" Samvel Karapetyan, for US$ 8 million investment in circus reconstruction. During latest press conference art director of circus Sos Petrosyan confirmed, that "Tashir Group" provided US$ 6 million for circus reconstruction. Yerevan circus was built in 1962, and this is the first renovation. The administration of the circus has not provided any information who will act as general contractor of reconstruction.

The 4th regional specialized "Construction and Interior 2011" exhibition organized by the "Prom Expo" will be conducted from April 29 to May 1 in sports & concert complex after K. Demirchyan. According to organizers, exhibition is of interest not only among local, but also among international construction companies. Businessmen from Iran, Germany, Great Britain, Italy and Russia have also been invited to participate in the exhibition. Commercial director of the "Prom Expo" Vahagn Mirijanyan told Armenpress: "Overall 160 businessmen will participate in the event. There are representatives of some international companies that are interested in Armenian market or have already started their activities in republic. But the main purpose of exhibition is promoting and presenting the potential of local producers". Also mention that recently passed another construction exhibition "CAUCASUS BUILDING & RECONSTRUCTION EXPO 2011" showed significantly reduced interest in such kind of presentations, however, let's hope that all interested parties will show more interest in this exhibition. Expo Has Opened "Construction and Interior 2011" exhibition has opened today. There were about 100 companies taking part in expo, which number was slightly more than in previous CAUCASUS BUILDING & RECONSTRUCTION EXPO 2011. However the number of participant companies is reducing from year to year, meaning that firms are searching alternative ways of promoting their new products & services.

Yesterday, on the 13th of April, German well-known company OBO Bettermann held introductory seminar at Armenia Marriott Hotel. The company this year celebrates its 100-year anniversary and is one of the leading European companies offering information technology and electrical network services. The seminar was organized by the Root ITSP, which is the official representative of OBO Bettermann in Armenia. Representatives of leading contructors of the republic were invited to participate in the event. Following the introduction by Root ITSP CEO Gegham Sargisyan, specially invited representatives of OBO Bettermann Waldemar Mader and Tarmo Riit took the floor. Mr. Riit described in detail the use of company products, and expressed hope that the presented systems and products will succeed in the Armenian market. It is important to mention that in contrast to the European market, where OBO Bettermann's production has taken a leading position in its sector, the existing technology of construction works in Armenia will not allow to use such products widely. However, we strongly recommend all interested Armenian companies to get acquainted with OBO Bettermann's proposals at the Armenian representative office, or visit the official website of the company.