PROJECT

Projects

Summary of Investment Information

Project Number

32970

Company Name

PROPERTY DEVELOPMENT COMPANY CJSC

Date SPI Disclosed

Apr 29, 2013

Country

Armenia

Region

Europe

Projected Board Date

May 31, 2013

Environmental Category

B - Limited

Status

Completed

Last Updated Date

Jun 12, 2021

Department

Regional Industry MAS LAC & EUR

Industry

Tourism, Retail and Property

Previous Events

Approved : Jun 20, 2013
Signed : Apr 8, 2014
Invested : Mar 9, 2015

Sector

Construction and Real Estate

Project Description

The proposed project will support an investment by Property Development Company CJSC (“Prodeco”) for the construction of a ~23,000sqm Class A, 9 storey “energy efficient green office complex” in central Yerevan. The project is a greenfield that will contribute a modern, green building to the existing business infrastructure of the country, providing an important model for future energy efficient construction projects in the country. The office complex will be constructed on a total land area of 2,850 sqm on V. Sargsyan street, with the main façade of the existing building remaining intact in the new construction. The property developer, Prodeco, owned 100% by Ameria Group, was established in 2007 and specializes in real estate development.

Sponsor / Cost / Location

Development Impact

E&S Category Rationale / Risks and Mitigation