Vendors at Komitas Market Are Being Removed for Oligarch's Business Expansion: 'Zhoghourd'

'Zhoghourd' newspaper reports that at the beginning of the year, when vendors at the Komitas market were again compelled to leave the market area, the media reported that the privatizing company is GTB Holdings LLC. But who is this privileged contractor?

The market vendors asserted in conversations with 'Zhoghourd' that a residential building is to be constructed on the site, preventing them from earning their daily bread. In other words, ordinary residents will suffer while the business of a large businessman expands.

And who is this major businessman whose needs and business ambitions have been prioritized over the interests of Armenian citizens by representatives of Nikol Pashinyan's administration?

'Zhoghourd' has established through open sources that GTB Holdings LLC was founded on 12.07.2022. The company is multifaceted and includes organizations such as 'GTB Anhkht' LLC, 'Union Service' LLC, 'G T B Style' LLC, and 'G T B Build' LLC. The companies are involved in various construction and development projects; among them is a new and unique apartment building being built at 25 David Anhkht Street in Yerevan, as well as a multi-purpose building to be constructed at the rear of the well-known Komitas market. Furthermore, one of the companies' projects includes the factory for relocated braces saved from the fire in Yeraskh.

So, who are the owners of GTB Holdings LLC? 'Zhoghourd' uncovered that 50 percent ownership belongs to Nono Armeni Sargsyan and the other half to US citizen Bobby Singh Kang. Nono Sargsyan is the daughter of Armen Sargsyan, brother of the late Defense Minister Vazgen Sargsyan.

'Zhoghourd' attempted to reach out to Nono Sargsyan to understand the fate awaiting the employees of the Komitas market, but our messages went unanswered. Moreover, it should be noted that Nono Sargsyan's husband is Grigor Ter-Ghazaryan, a significant businessman who had previously traveled freely with a diplomatic passport.