30/01/2025
Yerevan for Sale!! Who Really Owns Our City?
Yerevan’s skyline is rapidly transforming, but beneath the cranes and new facades lies a troubling narrative. Recent investigations have unveiled a web of corruption within the city’s construction sector. In March 2024, the Anti-Corruption Committee arrested a municipal official for bribery related to construction permits, highlighting deep-seated issues in urban planning.
AZATUTYUN.AM
Moreover, the North-South Road project was marred by fraudulent transactions and document falsifications, leading to significant financial losses.
ARMENPRESS.AM
The unchecked influx of foreign capital, particularly from countries like India and Turkey, raises concerns about potential money laundering activities. Properties are often purchased under different names, with individuals acquiring multiple apartments to rent out, creating opaque ownership structures. This not only distorts the housing market but also poses risks to national security.
The housing market is showing signs of instability. Experts note a decline in second-hand apartment prices, attributed to emigration and socio-economic challenges.
PRESSAM.COM
This downturn could foreshadow a broader market crash if current trends continue.
It’s imperative for authorities to scrutinize these developments. Without immediate action, Yerevan risks becoming a hub for illicit financial activities, jeopardizing both its economic stability and national security.
Stay informed and vigilant. Yerevan’s future depends on the actions we take today.
(January.30.2025 )
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