YEREVAN. – The auction for the Government of Armenia Building No.2—where the country’s Foreign Affairs, Energy and Natural Resources, and Territorial Administration Ministries currently function—will be held within the first ten days of March. Government-Affiliated State Property Management Department Head Arman Sahakyan informed this during a press conference on Tuesday.

To note, the Government had adopted a decision, in October 2012, to sell the aforesaid building to Tango Company—which belongs to Argentinean Armenian businessman Eduardo Eurnekian—for $51.2 million. But, in December, it was decided to auction off the building, instead. 

“Eduardo Eurnekian, the Tango Company has not regretted to buy the building. There was solely a condition that they have to purchase the plot of land at the address 3 Vazgen Sargsyan [Street in downtown Yerevan] and construct a building [there]. Subsequently, that building will be exchanged—by way of shares—with the MFA building, and the remaining amount will be allocated to state budget. But if a higher [purchase] price is offered in the auction, the building will be sold to that buyer,” Sahakyan said.       

He added that, a preliminary sale agreement will be signed with Tango Company; and this means that if no purchase price higher than $51.2 million is offered during the auction, the Government of Armenia Building No.2 will be sold to this company.