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FRANCK MULLER CEO VARTAN SIRMAKES TO FINANCE "HIN YEREVAN" CONSTRUCTION PROJECT
Kristine Aghalaryan
13:45, December 4, 2014
Vartan Sirmakes, chairman and co-owner of luxury watch brand Franck
Muller, will be financing the "Hin Yerevan" (Old Yerevan) construction
project slated for downtown Yerevan that is estimated to cost between
US$120-130 million.
Swiss resident Sirmakes, who was born in Istanbul, also serves as
Armenia's consul general in France (Marseille). Sirmakes is a large
shareholder in ArtsakhBank and founded as is the sole shareholder
of ArmSwissBank.
Armenia's Minister of Urban Construction yesterday signed a deal with
MultiContinental Distribution, the company that will assume financing
for the Hin Yerevan project to begin next year.
MultiContinental Distribution LLC, registered in London, is fully
owned by Chrono Star International Participations Groupe Franck Muller
S.A. according to a document filed at the Great Britain Corporate
Register and located by Hetq.
Old City CJSC, a recently formed company fully owned by Vahe-Vasgen
Yacoubian, will be doing the actual construction of the project.
Some 100 addresses in downtown Yerevan have been listed as eminent
domain properties to be expropriated by the government.
Initially, the companies Glendale Hills and EMC were chosen by the
government to do the construction, but on November 6 of this year
the Armenian government proposed that the two hand over the rights to
Old City. (Yacoubian also has a stake in Glendale Hills; a building
and construction company).
Armenia's Ministry of Urban Construction is responsible for drafting
the blueprint of the project.
http://hetq.am/eng/news/57635/franck-muller-ceo-vartan-sirmakes-to-finance-hin-yerevan-construction-project.html
Kristine Aghalaryan
13:45, December 4, 2014
Vartan Sirmakes, chairman and co-owner of luxury watch brand Franck
Muller, will be financing the "Hin Yerevan" (Old Yerevan) construction
project slated for downtown Yerevan that is estimated to cost between
US$120-130 million.
Swiss resident Sirmakes, who was born in Istanbul, also serves as
Armenia's consul general in France (Marseille). Sirmakes is a large
shareholder in ArtsakhBank and founded as is the sole shareholder
of ArmSwissBank.
Armenia's Minister of Urban Construction yesterday signed a deal with
MultiContinental Distribution, the company that will assume financing
for the Hin Yerevan project to begin next year.
MultiContinental Distribution LLC, registered in London, is fully
owned by Chrono Star International Participations Groupe Franck Muller
S.A. according to a document filed at the Great Britain Corporate
Register and located by Hetq.
Old City CJSC, a recently formed company fully owned by Vahe-Vasgen
Yacoubian, will be doing the actual construction of the project.
Some 100 addresses in downtown Yerevan have been listed as eminent
domain properties to be expropriated by the government.
Initially, the companies Glendale Hills and EMC were chosen by the
government to do the construction, but on November 6 of this year
the Armenian government proposed that the two hand over the rights to
Old City. (Yacoubian also has a stake in Glendale Hills; a building
and construction company).
Armenia's Ministry of Urban Construction is responsible for drafting
the blueprint of the project.
http://hetq.am/eng/news/57635/franck-muller-ceo-vartan-sirmakes-to-finance-hin-yerevan-construction-project.html