Building development of a residential building “Bird” resumed

The construction company CJSC Glendel Hills, which is engaged in building residential apartment complexes in Yerevan and is a borrower of VTB Bank (Armenia), failed to meet its credit obligations, in 2015 it was declared bankrupt. As a result, the construction of a number of buildings was suspended, and a large number of citizens remained waiting for their housing.

VTB Bank (Armenia) received an offer from an interested investor of “I EM SI” CJSC to purchase the “Bird” building. The company will continue to build and transfer the apartments to their owners.

Tigran Astghiyants, Director, I EM SI: “We express our sincere gratitude for the assistance to VTB Bank (Armenia), which did not stand aside from the problems of citizens who were left without housing due to the construction of buildings. Now we have the opportunity to complete the project for the construction of a building at ul. Argishti 11/11, and we will make every effort to complete the construction work within 7-8 months and hand over the long-awaited apartments to the owners. ”

General Director - Chairman of the Directorate of VTB Bank (Armenia) CJSC Ivan Telegin: “We made a decision to sell the Bird building to I EM SI, which took up the continuation of the development. This project has a great social significance, given that so many customers of Glendel Hills have been waiting for their homes for several years. We are pleased and hope that as a result of the actions taken, buyers will soon be settled in their apartments, and the lights will come on in the windows. ”

The material is copyrighted and protected by law