Oligarch in the News
Armenian oligarch and billionaire property developer Samvel Karapetyan seems to be leading quite an eventful life. His interests are wide and varied and some of them have recently been making the headlines.
Transforming a Government Building Into a Hotel?
In December 2017 rumors started circulating that Samvel Karapetyan, as head of Tashir Group, entered into a joint business project with Samvel Alexanyan, an entrepreneur who is also a member of the Armenian Assembly. The two businessmen conceived of an idea to buy a building which is home to the ministry of economic development and investments and also to the Armenian stock exchange. According to the Armenian Times intrepid duo have started measuring the walls of the building and plan to open a hotel there. Although the rumors have been denied, the probability of such a development has not been ruled out.
Roads, Resorts and Skyscrapers
According to further recent media reports, there is a serious investment battle going on between Karapetyan and another one of Armenia’s top oligarchs, Gagik Tsarukyan. Besides building a new ropeway in Tsaghkadzor, a military unit in Artsakh, and laying down some roads, Tsarukyan also plans on building a US$3.4 million health resort complete with mineral pools in Jermuk. In a similar investment drive, Karapetyan has pledged US$1 billion over a decade towards completing a new building and the construction of a trade center, both in Yerevan. He has also announced plans to build a Dubai-style massive glass skyscraper near Matenadaran which is aimed at connecting old Armenia to new Armenia.
Samvel Karapetyan Reveals the Real Azerbaijan
Known for not only being passionate about buildings but also about culture, Karapetyan was instrumental in publishing a controversial book about the destruction of Armenian monuments. The Armenian Architecture Research Foundation, headed by the oligarch, published ‘Azerbaijan: Enemy of Civilization’. The book discloses how Armenian monuments in Azerbaijan have been destroyed over the past two decades by armed forces through an Ajerbaijani state-run plan. Karapetyan compares the destruction to what happened in Turkey in the 1940s and speaks out against the obvious vandalism against Armenian cultural heritage.
In addition to all his recent business and cultural endeavours, Karapetyan was also appointed as president of Ararat Moscow football club in late 2017. With so many activities going on, one can only wonder what the oligarch is going to get up to next.