YEREVAN, JULY 20, ARMENPRESS: Armenian government decided to hold a tender for a 50-year lease of Armenian Circus building and its property on August 10. The minimal price fixed by the government is 100 million ($115,000) drams. The potential buyer will be committed to invest another 300 million and run the facility as a circus for next 25 years.
Sos Petrosian, director, welcomed the tender saying though the circus is a government-owned facility but its subsidies are not enough to even pay utility fees. He said all other expenses are covered by the staff. But he feared that a buyer could later turn the building in downtown Yerevan into a mall or a trading center.