The Old Yerevan Program is about 70% complete. This is what Chairman of the State Committee on Urban Development of the Republic of Armenia Narek Sargsyan said when the report on the 2016 State Budget was being considered during the joint session of the Standing Committee on Economic Affairs and the Standing Committee on Financial-Credit and Budgetary Affairs of the National Assembly of the Republic of Armenia. “There are two investors, the first of which has already launched activities in the area near Abovyan Street. Construction of the sector of the Old Yerevan Program at Teryan Street will be launched in a month,” Narek Sargsyan stated, according to yerkirmedia.am.

Sargsyan added that the results of program implementation will be seen in the second half of the year and stated that, in accordance with the draft, the building of Aram Manukyan (one of the founders of the First Republic of Armenia) will be preserved, while the building of the Afrikyans will be renovated.