Golden Palace Hotel in Tsaghkadzor Up for Sale

The Property Valuation and Auction Center reports that the Golden Palace hotel in Tsaghkadzor is for sale. The following post was made on the Center's Facebook page:

"The property is subject to sale based on the government decision No. 1665-A dated November 21, 2019, belonging to the State Property Management Committee of the Ministry of Territorial Administration and Infrastructure of the Republic of Armenia, located at 34/1 Tandzaghbyur Street, Tsaghkadzor, Kotayk Province. This state property includes buildings with a total area of 19,758 square meters (hotel complex of 19,167.7 square meters, substation of 115.6 square meters, pump station of 54.7 square meters, and swimming pool of 420 square meters), as well as 3,257 items of movable property within the buildings and a dedicated land plot of 1.38 hectares for the use and maintenance of the buildings.

The auction will take place on December 18, 2023, at 11:00 AM. The starting price for the property is 7,526,457,800 AMD."