The 'Godfather' of the Controversial Development Project is Deputy Prime Minister Mher Grigoryan: Hraparak

The newspaper 'Hraparak' reports: 'According to certain information, the 'godfather' of the controversial project authored by Gevorg Papoyan from the ruling My Step Alliance is actually Deputy Prime Minister Mher Grigoryan. This refers to a project related to developers, in which the author proposes that the bank, from which a citizen is purchasing an apartment through a mortgage loan in the primary market, should not fully transfer the amount payable for the right to purchase the apartment to the developer, but rather transfer 25 percent of it, with the remaining 75 percent to be paid only after the apartment is built.

This project, which has already passed the first reading, has sparked intense discussions both among developers and within the My Step team. Sector officials believe that this would push small and medium developers out of the market, leading to monopolization and leaving the field in the hands of a few large companies. Mher Grigoryan is allegedly lobbying for these companies and implementing it through Papoyan.

Large players in the sector would be grateful to Grigoryan if the project is adopted in its current form. However, it seems that within the My Step party, they have become aware of the deal and are trying to prevent it, which may explain the ongoing heated discussions. Recently, the author of the project told us that they had settled on a 50/50 option, and the project will again enter the agenda of the National Assembly in September. However, developers have doubts that the delay is an attempt to calm the outcry, and in the end give the initial version the appearance of a law.'

For more details, refer to the newspaper's current issue.