Tourism and interest in the country's culture, geography, people, and recreational opportunities is rapidly expanding in Armenia. This includes the long history, exclusiv unique nature, and well-preserved condition of Armenia's architecture that invite further exploration. In addition, various sports-related activities have generated interest in recent years.
The example of Tsakhkadsor
TigerDev Swiss SA has a mandate to carry out the development plan for a year round resort in Tsakhkadzor « The Valley of Flowers »
Sports, leisure and events: The project proposes development of a sport complex - with sports centre, cultural centre, luxurious accommodation and spa - complemented by a year-round ski area.
This project encompasses construction of hotels in different sizes and categories, apartment for rental to tour operators, holiday chalets or individual houses, plus a commercial centre including streets lined with shops, and new ski lifts, a funicular railway and car parks.
Objective: 15'000 beds in 15 years
Factors for success:
- Strong political support, both local and national
- A well organised and competent local authority
- A population open to new development
- An infrastructure with a basis of 2'000 beds
- 3 ski chair lifts built in 2004/2005
- 1.5 million inhabitants within a radius of 75km
Business environment for investors:
- Building permits are available within one month
- Armenian banks will lend up to 30% of the value of the construction
- Repayment of capital is provisionally in 10-12 years
- Property tax: 0.6% per year
- Property insurance is available
- Foreigners have the right to obtain deeds for up to 99 years
- An organization has been established to help / support investors
For more information see the publication “Tsakhkadzor « The Valley of Flowers »” prepared by TigerDev Swiss SA [PDF format].