ArmInfo. A new elite neighborhood, "Yerevan Downtown", will be built in the Noragyugh district of Yerevan and the surrounding area, covering 83.9 hectares. The project includes approximately 155 buildings, including 70-story skyscrapers, for approximately 65,000 residents. The corresponding decision was made at a government meeting on January 29.
According to Yerevan Mayor Tigran Avinyan, the program is designed to address significant urban development issues in the capital. The Yerevan mayor recalled that in 2023, during a meeting with residents of the Noragyugh district, it was the residents themselves who proposed implementing an investment program to address infrastructure issues. As a result of the program, the current Noragyugh area will be transformed into a modern district with high-rise buildings. Residents will receive compensation based on the market value of their apartments, plus an additional 30%.
He also added that several other major projects are also planned to be implemented using the financial resources generated under the program. These include the creation of approximately 250 hectares of forested areas near the Dalma Gardens, the cleanup of Yerevan Lake, and the complete reconstruction of the infrastructure. Furthermore, Avinyan emphasized, one of the most important results of the program is the unloading of Yerevan's "Small Center".
It should be noted that, according to the explanatory note to the document, within this 81-hectare area (part of the current Noragyugh neighborhood, from the Victory Bridge to Paskevich Hill), plots are planned for bank offices, business centers, and hotels, as well as recreational areas with a park complex. A separate plot is also planned for the offices of international organizations and a residential quarter for diplomats. There are also plans to build a residential complex with social infrastructure (schools, kindergartens, gyms, etc.).
The contractors for the development will be two local construction companies: "DT Construction" and "DT Development."
