Yerevan/Mediamax/. By the end of 2012, 1000 apartments, meant for young teachers and scientific workers of Armenia, will be put into commission.

Mediamax reports that Deputy Minister of Sport and Youth Affairs Arsen Karamyan said this at a news conference in Yerevan today. According to him, by the end of 2012, they plan to construct 5 residential complexes, 3 of which in Yerevan, and one each in Syunik and Tavush marzes.

Arsen Karamyan informed that as a result of these projects, contribution to Armenia’s economy will make about 36bln AMD. 2600 new workplaces will be created. He noted that there will be a preferential credit line operating for young scientific employees from marzes. The credit line, according to agreements with Armenian CB, provides for a repayment term of 20 years, prepayment of 20%, and annual interest rate of 10%.

Arsen Karamyan noted that the prices for apartments within the framework of these projects are significantly lower than the market ones. Thus, the cost of a two-room apartment will make on average $26-27.