Recently Armenian Ministry of Urban Development presented a new development mega project on the site of well-known old market called "Firdausi". If the project is implemented, on the site of old market and its surroundings will arise a new development conventionally dubbed "Round Square".

According to the Ministry the project will be implemented within 3-4 years with about US $ 300 million total budget estimated. The whole project will offer about 200 thousand square meters of total area and will consist of "Round Square" with a diameter of 85 meters and buildings height of 30-36 meters, underground parking, public and business centers, hotels and residential buildings.

Ministry of Urban Development assures that the all valuable architectural buildings of the site will be saved.