Gulf Construction Online - Colliers lands $250m Armenia World Trade Center project

Construction News

Colliers lands $250m Armenia World Trade Center project

17-10-2024

Leading diversified project management firm, Colliers Project Leaders – Middle East, has secured a contract worth $250 million to deliver end-to-end project management solutions for Armenia’s new World Trade Center coming up in capital Yerevan.

A public-private partnership between the Armenian government and Renshin, the project is designed to be a state-of-the-art mixed-use development that will be home to commercial spaces, offices, retail outlets, hotels and exhibition halls.

Colliers Project Leaders has a growing presence in the Middle East and has earned widespread recognition for its delivery of superior projects over the years, across segments like infrastructure, residential, education, healthcare and office.

Known for its visionary leadership and the adoption of advanced tools and technologies, the firm has been redefining project management in the Middle East.

"We have always placed a strong emphasis on consistently growing our capabilities to keep up with the needs of the market. Whether it is the adaption of global best practices or the development of pioneering technologies, our end goal has always been to deliver superior outcomes," said Sankey Prasad, the Chairman & Managing Director, Middle East & India, Colliers.

"A project of this scale requires industry-leading strategic and technical expertise, which is our proven capability. We are grateful to Renshin Limited and the Government of Armenia for entrusting us with this marquee assignment and look forward to collaborating with our internal and external stakeholders in Middle East, India and Georgia to bring it to life," he added.

An expert in the real estate industry and project management, Colliers has a proven track record of delivering large-scale, marquee projects including the World Trade Center in Bengaluru, India.

On the upcoming project, Artashes Tonoyan, CEO & Executive Committee Chair, World Trade Center Yerevan, said it is a mixed-use, net-zero, landmark real estate development promising to become the new face of Yerevan.

"To deliver upon this promise, we are engaging the top talent, top expertise, and top global firms. After a rigorous and tough tendering process, we are glad to announce that Colliers Project Leaders were selected to become our trusted partners," he added.

"We are especially happy and proud that our project has triggered Colliers International Group Inc. – Nasdaq & Toronto listed, Canada-based global professional services and investment management company, specializing in real estate, to enter Armenia and set up a permanent presence," said Tonoyan.

"This move is fully aligned with WTCY mission to promote international business relationships and expand Armenia’s participation in the world trade and investment. Looking forward to work with our esteemed Colliers colleagues in this unique endeavour," he added.-TradeArabia News Service