“Noy Land” to be built in Yerevan
Mayor of Yerevan Karen Karapetyan and President of the ITERA international corporation Igor Makarov signed an agreement on cooperation between the Municipality of Yerevan and ITERA international corporation.
According to the signed agreement, ITERA is preparing to implement large-scale investment projects in tourism, trade and public services, development of parks and green areas and a number of other spheres in Yerevan from 2011 to 2016. The agreement particularly envisages the construction of a new multifunctional center and a high-class hotel corresponding to international standards in Yerevan by 2016. ITERA will also implement the construction of a "Noy Land" ("Village of Noy") touristic complex and a number of other projects.
According to the agreement, within the framework of RA legislation and by the prescribed order, the municipality of Yerevan is committed to do everything possible to assist in the implementation of the corporation's investment projects by providing consulting, information and other necessary services.
The final itinerary for the projects' due dates will be specified after the confirmation of business plans.
