Auction of AOKS Building Held, Seized Assets of Illegal Origin Registered by State

The state has registered a total of 12 immovable and 1 movable (transport vehicle) asset derived from seized properties of illegal origin. This was reported by Gevorg Babayan, the Deputy Chairman of the State Property Management Committee, in response to a written inquiry from 'Patsinfo'.

“One immovable property is registered under the Republic of Armenia in the name of construction rights, and after the completion of construction works and the issuance of the final act, the ownership rights of the Republic of Armenia will be registered for this property,” Babayan stated.

Regarding the well-known AOKS building, the institution reported that the immovable property located at Abovyan 3, Yerevan, was presented for auction aimed at leasing the seized properties, which has since taken place.

“Currently, preparations are underway for the draft contract concerning the lease of the property with the company declared the winner of the auction. As for the other properties, the State Property Management Committee is implementing actions aimed at the more effective and purposeful utilization of these properties under the ‘State Property Management’ law,” the institution reported.