Armenian government approves sale of state-owned property in Yerevan

The Armenian government on Thursday approved the sale of a state-owned property in Yerevan through a public electronic auction, with a starting bid of 315.8 million drams.

The decision authorizes the State Property Management Committee, operating under the Ministry of Territorial Administration and Infrastructure, to sell a non-residential property at 48 Halabyan St., Unit 43, in Yerevan's Davtashen district.

The opening bid for the first auction has been set at the property's full appraised market value as of March 3, totaling 315.8 million drams.

If the initial auction does not result in a sale, additional electronic auctions will be held until the deadline set for the disposal of the property.

According to an appraisal by Abit LLC, the building is in satisfactory condition, has good transport access and is served by essential utilities, including water, electricity and sewerage.