The Armenian government approved on Thursday an investment project to construct and develop the unfinished upper section of Cascade complex in Yerevan.

Yerevan Mayor Tigran Avinyan presented the investment project to the Cabinet members.

As part of the investment project, the new section of the Cascade complex will house a new 1,000-seat concert hall owned by the city, a modern art museum equipped with new exhibition halls, a dedicated area for state ceremonial events, and the adjacent territory will be landscaped. This will create a new cultural and recreational hub covering more than 30,000 square meters.

“In an adjacent area of 4.6 hectares, the company implementing the project will be allowed to build a multifunctional complex integrated into the architectural environment. This is a decades-old unresolved issue. The excavation at the upper part of the Cascade complex began around 2007, and since then, the work has not progressed,” the mayor said.

The investment project will be implemented by GTB Development.

Published by Armenpress, original at https://armenpress.am/en/article/1232943