A Restaurant to Be Built in the Sports and Concert Complex

A restaurant complex will be established in the Karen Demirchian Sports and Concert Complex, as decided in today's government session.

The area of 246.6 square meters on the 1st floor and 529.4 square meters on the 9th floor of the cultural and sports center will be leased for 10 years to the company "Father and Son Yeremyan" LLC.

It is noted that the monthly rental fee for the leased area amounts to 3,000,000 Armenian drams, of which 20% will go to the organization's budget, while the remaining 80% will go to the Republic of Armenia's state budget.

The company is obliged to make a total investment of 356 million Armenian drams, both indivisible and divisible, within 6 months after the lease agreement comes into effect, as per this decision, and to create at least 40 jobs within one year in accordance with the investment program presented by it.

If the planned investments are completed at least 50% within the stipulated time but not in full, the company will be obliged to complete the planned and unmet investments within 2 months, while paying a fine to the state budget of the Republic of Armenia equal to 15% of the amount of unmet investments.