Mayor Grants Construction Permit for High-Rise Hotel Opposite Moscow Cinema to Tsarukyan LLC

The Mayor of Yerevan, Hrachya Sargsyan, has granted a construction permit for a high-rise hotel complex at 5/5 Abovyan Street. The information was confirmed to Hetq by the Yerevan Municipality, addressing concerns raised by the former head of the Central Administrative District, Viktor Mnatsakanyan.

The former official had posted on his Facebook page today, stating: "Dear colleagues at the Yerevan Municipality, can you respond whether the rumors are true that you have granted a construction permit for the building located at addresses 5/1, 2, 5 on Abovyan Street based on the previous (as shown in the attached photo) project – 18 floors?"

The permit for the hotel construction was issued by the Mayor of Yerevan on September 19. The construction permit has been obtained by the Multi Group Concern LLC, owned by businessman Gagik Tsarukyan, along with his partners (A.A.D. Hotel LLC and lawyer Davit Mantashyan).

A construction permit for the hotel on Abovyan Street had previously been granted, but in 2018, the construction was suspended for several reasons, and legal proceedings were initiated. At that time, the underground floors and the first two floors of the hotel building had already been constructed.

Gagik Tsarukyan and his partners had discussions about constructing the "Kompiniski" hotel opposite the Moscow Cinema in 2019, during which a video was created showcasing the hotel's design.