President of the Armenian Association of Developers Gurgen Grigoryan at the Sputnik Armenia pavilion touched upon the current and planned legislative initiatives aimed at protecting consumer rights in the construction sector.
The main provisions of the draft law "On Construction Encumbered by the Right to Buy" were presented, which aim to increase the transparency of the primary real estate market, reduce buyers' risks and establish more clear and predictable standards for developers' activities, including:
•⁠ ⁠Mandatory requirements for developers,
•⁠ ⁠Public offering regulations,
•⁠ ⁠Obligations to disclose information,
•⁠ ⁠Introduction of mandatory financial audit,
•⁠ ⁠New legal mechanisms for protecting consumer rights