YEREVAN. – The Armenian Government-Affiliated State Property Management Department will auction off on Tuesday the Government of Armenia Building No.2—where the country’s Foreign Affairs, Energy and Natural Resources, and Territorial Administration Ministries currently function. The sale will get underway at 12:30pm, at the Auction Center.

The public sale will be conducted in line with the respective decision the Government had adopted on December 27, 2012. With this decision, the 14,241.9 square meter building-constructions and the plot of land, which is allotted for their service and use, are put up for sale.   

The starting price for the auction is Armenian drams—in line with the average exchange rate that is formed at the foreign exchange markets and issued by the Central Bank of Armenia—equivalent to $51,270,840.  

The property sale contract with the auction winner will be signed no later than April 30.   

The public sale will be conducted by standard—that is, ascending price—auction, in which individuals, legal persons, and communities can take part.