State Medical University Buildings to Be Sold at Auction with Starting Price of 1.8 Billion Dram

The government made a decision today, September 14, regarding the sale of state property. The properties in question are buildings with areas of 3292.3 and 853.6 square meters located at 60 and 60/2 Mamikonyants Street in Yerevan, along with allocated land areas of 0.212944 and 0.164453 hectares for their use and maintenance.

The mentioned property has been provided to the "Yerevan State Medical University after Mkhitar Heratsi" foundation under a gratuitous use agreement, from which part of the property was later separated and registered at 60/2 Mamikonyants Street, currently serving as two distinct property units. However, for years, the property has not been used and is in a dilapidated state.

The starting price for the auctioned property has been set at 1,847,300,000 dram, equivalent to 100% of the estimated market value of the real estate. The advance payment for participating in the auction is set at 5% of the starting price, amounting to 92,365,000 AMD, which is considered part of the property sale price for the winning bidder and is non-refundable in case of refusal to make further payments, being transferred to the state budget of the Republic of Armenia.

The buyer is also obliged to pay the amount charged for determining the value of the property, which is 1,387,379.46 AMD.