Firdusi Neighborhood Project is Among the Largest Investment Programs in the Country: Statement

The Armenian Association of Developers has issued a statement highlighting its ongoing efforts to address issues in the construction sector. The association expresses concern regarding comments made during the extraordinary joint meeting of the Yerevan City Council's committees on "Urban Development and Land Use Questions" and "Culture, Education, and Social Issues" on June 13, which seemed aimed at undermining the significant urban development project of the Firdusi neighborhood in Armenia.

The Armenian Association of Developers perceives a concerning trend and a sequence of actions intended to obstruct these efforts. It is imperative to reiterate that the Firdusi neighborhood project is one of the largest investment programs in the country, with nearly all participating development companies being members of our association. Therefore, we announce that we will continue to monitor developments related to the project closely and will not allow any unjustified and illegal actions that could impede or halt any construction project, as such actions will inevitably have dire consequences for developers, the construction sector, and the country’s economy and economic activity.

We call on stakeholders with opposing views to refrain from populist and provocative actions, statements, and directed initiatives. Constructive positions expressed by the representative of the government and the chief architect of Yerevan during the Council's extraordinary meeting were encouraging and instilled confidence. The association is ready to support the government of Armenia and the municipal authorities of Yerevan in the implementation of the Firdusi neighborhood project and believes that any issues should be discussed and resolved through constructive dialogue.