Avinyan Family Acquires 1000 sqm Plot in Norq-Marsht for a Tenth of Market Price: Civilnet

The family of Tigran Avinyan, the deputy mayor of Yerevan and a leading candidate for the City Council elections from the "Civil Contract" party, continues to experience significant property improvements. This is reported by Civilnet.

The media outlet previously revealed that while serving as Deputy Prime Minister, people close to him, including some former staff members, became involved in the industrial hemp business.

“Avinyan’s mother purchased an apartment in the center of Yerevan, as well as large plots of land in the Armavir region. Civilnet has discovered that Tigran Avinyan’s father, Armen Avinyan, bought a plot of land with an area of 1000 square meters in the Norq-Marsht administrative district last year. The price fixed in the sales contract appears more like a donation.

The 1000 sqm plot was acquired for just 10.5 million drams on September 30, 2022, through a sales agreement with Ara Siseryan. Armen Avinyan has acquired the plot located on Garegin Hovsepyan Street in the Norq-Marsht administrative district. Ara Siseryan is the father of Varak Siseryan, who was the head of the Deputy Prime Minister’s office when Tigran Avinyan held that position. Varak Siseryan resigned from the position on November 16, 2020, following a post by Nikol Pashinyan and also announced his intention to leave the party.

Ara Siseryan sold the 1000 sqm plot of land to Armen Avinyan for only 10.5 million drams. This price is clearly different from the market price for similar-sized plots in Yerevan, making it exceedingly cheap. Civilnet presents several examples of how much a 1000 sqm plot costs on Hovsepyan Street in Norq-Marsht. For instance, on one of the websites dealing with real estate listings, a 911 square meter plot on Hovsepyan Street is priced at 290,000 dollars, which is approximately 111 million drams at today’s exchange rate.

Moreover, on the same street, a 1250 sqm plot (which is 250 sqm larger than the plot owned by Armen Avinyan) is listed on List.am for 500,000 dollars.

According to another listing, there is also a 1200 sqm plot on Hovsepyan Street with a market value of 360,000 dollars,” the media reported.

For further details, visit the original source.