From Armenia in brief: Investments in construction hit $2.8 billion in 2008

by Maria Titizian

Published: Friday February 06, 2009

Looming over a newly constructed underpass, the new Cinema House is under construction in central Yerevan. Photolure

Yerevan - According to Armenia's National Statistical Service (NSS), investments in construction in Armenia in 2008 grew by 1.7 percent to $2.8 billion.

The greatest volume of investments was recorded in the third quarter of the year, 44.2 percent or $1.2 billion, dropping in the fourth quarter to 36.2 percent.

985 buildings with a total of 515,152 square meters of living space were put in commission in Armenia in 2008, exceeding the 2007 indicator by 9.8 percent. 84 buildings with a total of 22,800 square meters were constructed through state budget funds, 10 buildings with a total living area of 120,517 square meters by organizations and 891 buildings with a total of 371,835 square meters by private companies.