
The draft law of the Republic of Armenia “On Development Encumbered by the Right to Buy”, which proposes to establish clear requirements for developers selling the right to buy, including transparency, website availability, mandatory audit, as well as the introduction of mechanisms aimed at preventing possible consumer deception. It is also planned to form self-regulatory organizations (SROs) of specialized developers,
The introduction of rating procedures for developers and projects under construction, which proposes to classify projects under construction based on criteria used in international practice, according to convenience and positioning (from standard to premium), as well as the assessment of developers based on data on transparency, bankruptcy or involvement in legal proceedings.
The Chairman of the Commission, Gegham Gevorgyan, also touched upon the need to regulate developer-buyer contractual relations and presented the results of the study conducted by the Commission in the construction sector from the point of view of protecting consumer interests. He emphasized the regulations often encountered in contractual relations that can negatively affect the interests of consumers or mislead them.
The parties noted that there are a number of problems in the sector, the solution of which can be contributed to by the legislative initiatives and market regulation tools proposed by the Association.
Representatives of the Yerevan Municipality, the Urban Development Committee, the Ministry of Justice, as well as the Commission also participated in the discussion. The participants responded positively to the initiatives presented by the Association, while presenting a number of observations and proposals on individual issues.
The parties agreed to continue the discussions in favor of the sustainable and continuous development of the economic sector, which provides about 20% of the country's GDP.



Contact us