YEREVAN. – It is expedient for the state that buildings like the Karen Demirchyan Sports and Concert Complex are owned by individuals.

Mkrtich Minasyan, who is Chairman of the Union of Architects of Armenia, told the aforesaid to Armenian News-NEWS.am.

“It is an accepted form that such buildings are auctioned off. If the former proprietor can no longer keep it, it must be sold.

“[But] its functions certainly shall be maintained, and I believe there is nothing to fear in this respect. The state does not have that much money to care for such a building,” Minasyan noted.

The Karen Demirchyan Sports and Concert Complex belonged to the Muradyan brothers, but, due to debts, it was put up as collateral. And two years ago, it was included in the MOD balance sheet.

As reported earlier, the Karen Demirchyan Sports and Concert Complex, in Armenia’s capital city Yerevan, on Monday has been offered for sale by auction, and with a starting price of 19,350,100,000 drams (approx. $46,922,028), since it is considered a collateral. The deadline is May 29, informed the Justice Ministry’s Compulsory Enforcement Service of Judicial Orders.