Part of Victory Park Declared Non-Transferable Sold; Legal Proceedings Initiated

The Investigation Department of the General Prosecutor's Office has reviewed the documents related to the plot of land located at the intersection of Babayan and Ulnetsi streets in Yerevan.

The investigation revealed that the winner of the lease auction for the land, which has an area of 6,900 square meters, was a citizen identified as A.P., who on February 18, 2003, informed the Mayor of Yerevan via a letter that due to their departure from the Republic of Armenia, they were withdrawing their offer in the auction and requested that another individual be declared the winner.

Both of the other two participants in the auction also withdrew from the lease agreement, after which the offer to lease the land was presented to the fourth participant, V.P., who was subsequently declared the winner of the auction.

Under the lease agreement signed on October 14, 2003, between the Mayor of Yerevan and V.P., the 6,900 square meter land was allocated to V.P. for 25 years for the purpose of establishing a recreational and entertainment complex. The lessee was also granted a right of first refusal for purchase.

As a result, by decision of the Mayor of Yerevan, the leased plot of 6,900 square meters was sold to V.P. for its cadastral value of 10,105,878 drams. On July 18, 2011, the land received the address Babayan 1/1, according to a decision made on that date.

Under the contract signed on July 18, 2011, V.P. sold the plot to another citizen, I.P., who subsequently sold it to R.G. On February 27, 2020, R.G. fully contributed the land to the charter capital of a limited liability company, and on January 31, 2023, the company pledged its assets, including the land, to a bank for 10 billion drams.

On August 23, 2023, the General Prosecutor's Office analyzed a letter received from the Committee on Urban Development, which confirmed that the area of Victory Park is bordered by Freedom Avenue, Saralanj, and Babayan streets. In addition, by a decision from the Mayor of Yerevan on December 27, 2004, a special development regime was established in the area enclosed by Ulnetsi and Babayan streets and the railway, which limited construction possibilities and was not subject to transfer.

Considering that the investigation uncovered apparent signs of a crime, the prosecutor filed a report regarding the crime to the Investigative Committee. On September 20, 2023, criminal proceedings were initiated under part 2 of Article 446 of the Criminal Code (official negligence).