Pullman Yerevan sets new standards of lifestyle in Armenia
Premium residential complex Pullman Living and Residences Yerevan with investment apartments will be commissioned at 180 Norki Ayginer in December 2027. It has no analogues in Armenia: surrounded by green areas, with its own sports grounds, jogging and cycling paths, swimming pools, leisure, and entertainment areas. All this, combined with services provided at the level of a five-star hotel, is setting new standards of lifestyle in Armenia.
InfoPort.am spoke with the director of LLC "Tekhnotun", Tigran Mnatsakanyan, about the difficult path of implementing this large-scale project and about its cooperation with the world-renowned company Pullman.
Mr. Mnatsakanyan, how did the idea arise to implement such an ambitious project in Yerevan, like Pullman Living and Residences Yerevan?
Let's start with the fact that this is our company's second project in Yerevan. And when we decided to launch it, we realized that we wanted to bring to life a completely new concept which has no equivalent in Armenia. And it was the world-famous Pullman brand that helped us to implement this ambitious idea.
Was it difficult to "bring" such an authoritative brand as Pullman to Armenia?
– Frankly speaking, negotiations with Pullman representatives lasted six months. But we managed to substantiate our proposal; we also presented data on the stable growth of Armenia’s economy and the security of the country’s investment environment. The negotiations ended in success, and, as a result, today Pullman is represented on the Armenian real estate market under its own brand. I should emphasize that this is an important achievement in terms of raising the country’s image, improving the investment climate, and developing tourism and the real estate market.
Mr. Mnatsakanyan, please tell us about the concept of Pullman Yerevan. How does it differ from other premium offers on the Armenian real estate market?
Pullman Yerevan is a new word on the real estate market of Yerevan. It is a totally new concept which offers premium apartments together with a complex of high-quality services according to five-star hotel standards. Our aim is to propose our future residents new standards of life. In this way we are trying to shield our potential clients from everyday cares: they will live in their elite apartments, and we will take care about their comfort, providing services in line with five-star hotel standards.
Tell us please what the Pullman Living and Residences Yerevan complex will comprise?
– Pullman Living and Residences Yerevan is made up of four buildings. Of them, one will be a five-star hotel designated for long-term stays, while the rest will be accommodation of a premium category of apartments. I would mention that of the 20,000 sq m which belong to Pullman Yerevan, only 4,000 are built up - that is, just 20% of the total area. 16,000 sq m are left to green zones and common areas. The green zones amount to 13,000 sq m.
In the open part of the complex, there will be courts for different sports, jogging and cycling paths, the longest infinity pool in the region at 70 meters, and a children's pool. I should note that lifeguards will be on duty at the pools.
Inside the complex, there will be a 1,200 sq m SPA area: with pools, a hammam, sauna, and salt rooms. There will also be an indoor gym with an area of 500 sq m. On the premises, there will be a restaurant, café, bar, beauty salon, shop, and pharmacy. There are also conference halls and a co-working area.
The complex will also have several spacious parking areas, separated for residents, guests, and service staff. A valet parking service will also be in operation.
The complex also has its own security service.
Most of the services for residents will be free. They will only pay the complex service fee and utilities. Paid services will be available to them at special prices.
I would especially note that the complex is equipped with its own power supply system - generators with a capacity of 5 MW, which makes it possible to provide uninterrupted power even in the event of an accident in the central system. There are also independent cold-water storage tanks.
Unique engineering technologies were used to create this complex: it is equipped with a centralized air-purification system, thanks to which clean air at room temperature is supplied round the clock to all apartments. Although the heating system is centralized, through special engineering solutions each resident is able to control it from his own apartment and set a temperature that is comfortable for him.
The complex is also equipped with a professional fire safety system. According to Pullman's standards, for fire safety reasons, all apartments will have two stairwells. The building has its own drainage system.
Generally speaking, construction work is being carried out in accordance with Pullman brand standards and requirements. The company also monitors the construction process. Subsequently, Pullman will take over the management of the complex in accord with its high standards.
Summarizing, I would note that together with Pullman we are setting new standards of life in Armenia.
If it is not a commercial secret, could you please tell how much has been invested in the implementation of the project, and who are its investors?
– The investment package of the project is $100 million. These funds have been invested entirely by the Armenian side, by a single investor. Pullman merely facilitates the implementation of the concept according to his high standards and, as has already been said, will later manage the complex.
Who are the potential residents of Pullman Living & Residences Yerevan? Are there any buyers already?
More than 50% of the housing stock has already been sold. Our target audience is residents for whom time, comfort, and high-quality services are of great importance.
Are there any foreign citizens or representatives of the Diaspora among your clients?
- Part of our clients are citizens of the Republic of Armenia. The rest are foreign citizens, as well as Armenians from the Diaspora. Among them are citizens of the Russian Federation, European countries, and the United States.
Is owning an apartment in Pullman Yerevan an expensive pleasure?
- "Expensive" is relative. The price per square meter in our apartments starts from 1,750,000 drams, depending on the floor level of the apartment…
Well, that is quite expensive for the average Yerevan resident...
- But for the buyers of our apartments, believe me, not really… Many of them, having learned the price of our apartments, admit that for a complex of this level, and with Pullman's service on top of that, the prices are quite moderate. Pullman is a symbol of quality and trust all over the world.
Mr. Mnatsakanyan, both worldwide and in Armenia, big business takes on certain social obligations toward the community and the city. Are there any socially significant projects that have been implemented or are being implemented by your company?
– Yes, we are implementing certain projects in cooperation with the prefecture of Nork-Marash and the Yerevan Municipality. Recently, at our expense and in cooperation with the company “Veolia-Jur”, we built a new water pipeline that will supply drinking water to Ovsepyan and Armenakyan streets. In addition, we took an active part in the Yerevan Municipality’s project to restore the Nork Gardens.
We also intend to asphalt the street located next to our complex completely, install new sidewalks and a new lighting system on it, and replace the overhead cables and pipelines of the existing infrastructure with underground ones.
When is Pullman Living and Residences Yerevan going to be commissioned?
- We intend to commission this complex in December 2027.
Do you have plans for other similar projects in Armenia after the completion of this project?
- At the moment, I would say no, since each subsequent project must be better than the previous one, or at least not inferior to it. Meanwhile, we have not yet found such a place or territory in Armenia where we could implement a project of this scale and level. But, as they say, never say "never".
“Never say 'never'” – we will conclude our conversation on this note, looking forward to your new impressive projects.
Thank you, Mr. Mnatsakanyan, for an interesting and substantive interview...