Colliers’ project management arm will manage the construction of the new US$250-million new World Trade Center (WTC) in Armenia.

The project is to be built in Yerevan, the country’s capital, and will serve as a landmark for the region, according to a news release issued by the Toronto-based company.

Colliers Project Leaders’ Middle East branch will oversee the work. The development will be a state-of-the-art mixed-use facility, encompassing commercial spaces, offices, retail outlets, hotels, and exhibition halls, said Colliers. The project is a public-private partnership between the Armenian government and Yerevan-based Renshin.

Colliers is well-known for its expertise in delivering large-scale projects globally, including the World Trade Center in Bengaluru, India. The company will oversee all phases of the WTC Yerevan project, which the firm regards as “a significant step” in expanding its footprint in Armenia and an addition to its across the Middle East.

(Technically, Armenia is part of Eurasia, the region south of Europe that includes Turkey, among other countries, and falls between the Middle East and Asia.)

“A project of this scale requires industry-leading strategic and technical expertise, which is our proven capability,” said Sankey Prasad, Colliers’ chairman and managing director of Colliers Project Leaders in the Middle East and India.

“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 across the Middle East, India, and Georgia to bring it to life.”

The new World Trade Center Yerevan is poised to become a hub for business and international trade, positioning Armenia as a key player in global markets, said Colliers. The project is designed as a net-zero development and aims to integrate sustainability and modern infrastructure in its design.

Artashes Tonoyan, WTC Yerevan’s CEO and executive committee chair, said Colliers was awarded the contract following a rigorous tendering process, and the Toronto-based firm has established a permanent presence in Armenia.

“This move aligns perfectly with WTC Yerevan’s mission to promote international business relationships and expand Armenia’s participation in world trade and investment,” said Tonoyan. “We look forward to working with our esteemed colleagues at Colliers in this unique endeavour.”

Construction is slated to begin in the coming months.

Photo: PRNewsfoto/Colliers