Build Real Estate & Property Awards

Build Real Estate & Property Awards 2015 38 ahakni Residential Community is the realization of a dream. The moment Armenia became a free and independ- ent country, Vahakn S. Hovnanian, a successful property developer from the United States with over 60 years experience, wanted to build a proper housing community with world class standards in the post soviet country. Instead of knocking down existing soviet built buildings and displacing families from the capitol city’s centre, Hovnanian chose a gorgeous site within the city limits with views of the biblical Mount Ararat. Unfor- tunately, that site had been blighted by its former use as the city dump for decades. The first two years were spent cleaning the landfill and restoring the environment to its natural beauty. The Vahakni Residential Community plan envisages construction of 700 homes: single family homes, townhouses, and mansion style condominiums, and a development within a development of 2300 apartments and commercial units with upgraded state of the art infrastructure and original archi- tectural solutions. The district is divided into eight sections with villas, cottages, and town-houses of different architectural styles, as well as improved, fully connected land lots , the man-made reservoir Lake Shant, an outdoor shopping mall and Ararat Valley Country Club with its swimming pool, mini golf, golf driving range, and 9 hole executive golf course, 2 professional tennis courts, foot- ball fields and a restaurant/clubhouse. The district began in 1998 with the golf course, the first homes in 2001. Ever growing at a slow, but steady pace it has become an integral part of Yerevan. Now Vahakni offers not only beautiful houses and a superbly improved environ- ment, but also a quiet, safe, and healthy lifestyle. In its 17 years of existence, Vahakni Residential Community has built more than 300 houses with about 1200 residents, with many, many more under construction. Hovnanian International is committed to supporting the revitalization of an independent Armenia. With its practices of environmental and social responsibilities, it aims to create a new 21st century culture to Armenia, and to encourage repatria- tion of Armenians from all over the world together to live in Vahakni. It is dedicated to providing world-class homes at Vahakni which, in turn, brings vital resources to Ar- menia and allows the Armenian people to reclaim their past, celebrate their heritage, and contribute to the future of Armenia. The firm is unique as it is dedicated to this mission, as well as to ensuring affordable, convenient., and comfortable homes for a wide variety of clientele. HI has grown considerably as a business since the project began. Mentored by its US based parent company, it is enabled to stay at the forefront of emerging trends in the industry, as it is kept apprised of all the latest trends in housing and homebuilding technologies. Armenia, the country in which Hovnanian International is based, is a landlocked post-soviet republic. Because of its tragic history with neighbouring countries, its bor- ders have been blockaded. Sourcing and importations of necessary building materials and technical equipment is quite difficult and inordinately expensive. However, Armenia affords firms such as HI a number of exciting opportunities including the ability to cater to an international diaspora and a local clientele hungry for a western lifestyle. Best Neighbourhood Construction Company - Armenia Best Armenian Development: Vahakni Private Residential Community Hovnanian International Ltd Hovnanian International Ltd was founded by renowned USA businessman and philanthropist Vahakn Hovnanian, who launched the architectural planning and construction of Vahakni Residential Community in Armenia in the late 1990s. We invited CEO Nina Hovnanian to talk us through the firm and the unique community it has produced. V