• The purpose of the auction is to reduce the cost of Karen Demirchyan Complex (video)

    When announcing the auction of the Karen Demirchyan Sport & Concert Complex, the Service for the Mandatory Execution of Judicial Acts (SMEJA) did not considered the fact that the complex is a historical and cultural landmark of Armenia, says Koryan Grigoryan, a representative of the Sport & Concert Complex commonly known as Hamalir.

    By a 2005 decision of the Armenian Government, the building was recognized as a historical and cultural monument. However, as Armine Hakobyan, a lawyer of the Karen Demirchyan Sport and Concert Complex CJSC, said at the press conference, the Ministry of Culture had told them that there are not specific valuation parameters to determine the historical and cultural value of a building and a special committee should be set up to address the issue.

    Koryan Grigoryan says the uproar created around the Complex aims to divert public attention from illegal credit transactions concluded by the executive. “The purpose of the auction is to lower the price of the Complex to such an extent that it will fit the pocket of a certain Mr.”

    Although the representatives of the Complex did not reveal any names, they refuted the allegations that Leader of the Prosperous Armenia Party (BHK) Gagik Tsarukyan is among the possible bidders.

    On May 19, the SMEJA put the Complex up for auction at an initial price of 19 billion, 350 million drams.

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