Colliers Project Leaders has secured a significant project management contract for Armenia’s new World Trade Center in Yerevan, valued at approximately $250 million.
Colliers Project Leaders, a prominent diversified project management firm, has been appointed to deliver comprehensive project management solutions for Armenia’s upcoming World Trade Center in Yerevan. This ambitious initiative, estimated at around USD 250 million, represents a public-private partnership between the Armenian government and Renshin Ltd. The development is poised to become a state-of-the-art mixed-use complex featuring commercial spaces, offices, retail outlets, hotels, and exhibition halls.
With an impressive portfolio in the real estate and project management sectors, Colliers has demonstrated its ability to manage large-scale projects, including the successful completion of the World Trade Center in Bengaluru, India. The firm has earned a solid reputation in the Middle East, where it has established a growing presence and garnered acclaim for delivering superior projects across various sectors, including infrastructure, residential, education, healthcare, and office space.
Sankey Prasad, Chairman & Managing Director for Colliers in the Middle East and India, expressed the firm’s commitment to maintaining high standards and adapting to market needs. He stated, “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 adoption of global best practices or the development of pioneering technologies, our end goal has always been to deliver superior outcomes. A project of this scale requires industry-leading strategic and technical expertise, which is our proven capability. We are grateful to Renshin Ltd. and the Government of Armenia for entrusting us with this marquee assignment and look forward to collaborating with our internal and external stakeholders in the Middle East, India, and Georgia to bring it to life.”
Artashes Tonoyan, CEO and Executive Committee Chair of World Trade Center Yerevan, highlighted the significance of the project for the region. “The World Trade Center Yerevan project 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.”
Tonoyan also expressed pride in the fact that this project has prompted Colliers International Group Inc. – a Canada-based global professional services and investment management company listed on Nasdaq and the Toronto Stock Exchange – to establish a permanent presence in Armenia. “This move is fully aligned with WTCY’s mission to promote international business relationships and expand Armenia’s participation in global trade and investment. We look forward to working with our esteemed Colliers colleagues in this unique endeavour,” he added.
The World Trade Center Yerevan is envisioned as a transformative project that will not only elevate the architectural landscape of the city but also serve as a hub for international business and commerce. As construction progresses, the collaboration between Colliers and Renshin Ltd. is expected to play a pivotal role in realising this ambitious vision.
