“Builders play a significant role in the country’s economic life. However, legal predictability is lacking in long-term investment programs.”
In an interview with Sputnik Armenia, President of the Armenian Association of Developers Gurgen Grigoryan touched upon the problems of the sector and the legislative amendments proposed by the association to the relevant bodies.
According to Gurgen Grigoryan, developers play a significant role in the country’s economic life. This is evidenced by the 2025 GDP indicators of about 21.5 percent: construction and real estate-related activities, related, derivative, and service sectors together. Tax revenues in 2020-2025 amounted to about 350 billion drams.
“It is necessary to ensure a predictable business environment, and not apply retroactively worsening regulations to current investment programs. "Introduce mechanisms to ensure that the market continues to develop."