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"Noah" Ethnographic District in Yerevan
Project Cost:
$ 98,340,000
Internal rate of return (IRR) 23%
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PROJECT DESCRIPTION
Investment Plan (1)
Disclaimer
"Noah" ethnographic district investment project intended to develop a 9.2- hectare land plot situated near the Dalma gardens, in the geographical center of Yerevan. It is planned to implement a new system of pedestrian streets, which will give an opportunity to locate their various social and cultural groups of an artist like carpet weaving, handicrafts, painting and also manuscripts exhibitions, museums hotels, residential, ethnic foods vendors and more. The biblical tale of Noah and such unique district will play a major role in the development of cultural tourism. The District is planned to build up with typical, cozy streets with the view to Mount Ararat and with the 2 to 3-floor buildings designed in the national folk style. Total construction area of this project budget is about 98,500,000 USD. Taking into account that current investment is taking place under the patronage of government of the republic of Armenia, investors will receive unique benefits during project realization. These benefits will be tangible during architectural project approval and construction permission process.
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