Colliers Project Leaders, Middle East secures $250-million World Trade Center, Yerevan project

YEREVAN, Armenia, Oct. 17, 2024 /PRNewswire/ -- Leading diversified project management firm, Colliers Project Leaders, Middle East, has won the mandate to deliver end-to-end project management solutions for Armenia's new World Trade Center in Yerevan, valued at USD ~250 million. A public-private partnership between the Armenian government and Renshin Ltd., 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. Well known for its expertise 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.

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. 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," says Sankey Prasad, Chairman & Managing Director, Middle East & India, Colliers.

"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. 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. 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," says Artashes Tonoyan, CEO & Executive Committee Chair, World Trade Center Yerevan.

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Sukanya Dasgupta
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