Artak Sargsyan's Sons to Build a Shopping Center in Yerevan

Former National Assembly member and prominent businessman Artak Sargsyan's sons will construct a multifunctional shopping center in Yerevan. According to 'Hetq,' the businessmen's sons have acquired a plot of land in the Nor Nork administrative district, next to the 'Jrardashr' entertainment venue.

The owners of the 7,323 square meter (0.7 ha) land on Myasnikyan Boulevard are Artak Sargsyan's sons—Davitt, Tigran, and Samvel Sargsyans—as well as 'Luisas' LLC. The company is fully owned by Tigran Sargsyan, one of the businessman's sons, who holds Vanuatu citizenship. Vanuatu is a peaceful Pacific nation with a population of 243,000.

The Yerevan municipality has granted the Sargsyans permission to design the shopping center. Following this, the developers drafted a project that still requires examination. According to the design application, the planned multifunctional complex will include a supermarket, food court, and auxiliary buildings. The complex, designed to have three above-ground floors, will feature both underground and above-ground parking.

Fifty-year-old businessman Artak Sargsyan founded 'SAS Group' in 1997 and has been involved in politics since 2004. He has served as a member of the National Assembly in the 'Ordinal Country' and 'Republican' factions and is a member of the Republican Party of Armenia (RPA). In 2018, Sargsyan was one of the first figures to leave the RPA. After the political changes in 2018, Artak Sargsyan expanded his business activities. He completed the construction of a new trade and food center on Halabyan Street in Yerevan and is nearing completion of a food point under construction on Andranik Street in the Malatya-Sebastia administrative district, as well as renovating a multifunctional complex on Arshakunyats Boulevard.