Extension of land lease agreement and amendments

4028-Ա18 August 2026In force

The Mayor of Yerevan has decided to extend the lease agreement for the land plot occupied by the shop at Mantashyan Street 1/3 until September 1, 2029. Several amendments are made to the agreement, including changes to termination clauses, notification procedures, and rent calculation. The decision also mandates state registration of the resulting right and assigns responsibility for execution and oversight.

Property managementShengavit

What was decided

Lease extendedLand plot
Authorize the Head of the Shengavit administrative district to conclude an agreement with "MAS" Armenian-Russian JV LLC to extend the lease agreement No. 1113 dated 28.02.2006 for the land plot of 53.9 sqm occupied by the shop at Mantashyan Street 1/3 until September 1, 2029, and to make amendments and additions to it.
- Counterparty: "MAS" Armenian-Russian JV LLC
- Executor: Head of Shengavit administrative district
Object
Mantashyan Street 1/3
Cadastral code
2025479
Area
53.9 m²
Replaced lease_agreement · Clause 16
as per the original contract dated 28.02.2006
until September 1, 2029
Act amendedLease agreement
Amend the lease agreement by removing the phrase "including the implementation of capital construction in accordance with the procedure established by the legislation of the Republic of Armenia" from clause 4.2.
- Counterparty: "MAS" Armenian-Russian JV LLC
- Executor: Head of Shengavit administrative district
Deleted lease_agreement · Clause 4.2
Clause 4.2: "including the implementation of capital construction in accordance with the procedure established by the legislation of the Republic of Armenia"
Clause 4.2: remove "including the implementation of capital construction in accordance with the procedure established by the legislation of the Republic of Armenia"
Act amendedLease agreement
Amend the lease agreement by removing the phrase "and to alienate the attached real estate to the lessor on terms determined by the parties" from clause 4.4.
- Counterparty: "MAS" Armenian-Russian JV LLC
- Executor: Head of Shengavit administrative district
Deleted lease_agreement · Clause 4.4
Clause 4.4: "and to alienate the attached real estate to the lessor on terms determined by the parties"
Clause 4.4: remove "and to alienate the attached real estate to the lessor on terms determined by the parties"
Act amendedLease agreement
Amend the lease agreement by removing the phrase "and to alienate the attached real estate to the lessor" from clause 5.5.
- Counterparty: "MAS" Armenian-Russian JV LLC
- Executor: Head of Shengavit administrative district
Deleted lease_agreement · Clause 5.5
Clause 5.5: "and to alienate the attached real estate to the lessor"
Clause 5.5: remove "and to alienate the attached real estate to the lessor"
Act amendedLease agreement
Amend the lease agreement by adding clause 6.7, which states that in case of a change in the purpose of the leased land plot, the lessor has the right to terminate the contract by giving one month's prior notice to the lessee.
- Counterparty: "MAS" Armenian-Russian JV LLC
- Executor: Head of Shengavit administrative district
Added lease_agreement · Clause 6.7
Clause 6.7: Add a new paragraph stating that in case of a change in the purpose of the leased land plot, the lessor has the right to terminate the contract by giving one month's prior notice to the lessee.
Act amendedLease agreement
Amend the lease agreement by adding clause 6.8, which grants the lessor the right to unilaterally terminate the contract under specific circumstances related to urban development, investment programs, or public interest projects.
- Counterparty: "MAS" Armenian-Russian JV LLC
- Executor: Head of Shengavit administrative district
Added lease_agreement · Clause 6.8
Clause 6.8: Add a new clause stating that the lessor has the right to unilaterally terminate the contract in case of implementation of urban development or investment programs approved by the community or municipality, or regulation of urban development issues of courtyards, as well as implementation of other programs by or with the participation of the community, or regulation of other public issues. The lease right registered with the State Real Estate Cadastre Committee shall be invalidated upon the application of the lessor, in accordance with subparagraph 'C' of paragraph 3 of part 3 of Article 35 of the Law "On State Registration of Rights to Property".
Act amendedLease agreement
Amend the lease agreement by adding clause 6.9, which specifies the methods of notification for unilateral termination of the contract.
- Counterparty: "MAS" Armenian-Russian JV LLC
- Executor: Head of Shengavit administrative district
Added lease_agreement · Clause 6.9
Clause 6.9: Add a new clause detailing the three methods of unilateral termination notification: publication on www.yerevan.am and www.azdarar.am, sending to the lessee's email address, and sending by registered mail.
Act amendedLease agreement
Amend the lease agreement by adding clause 6.10, which confirms the validity of the notification methods specified in clause 6.9 and obliges the lessee to monitor the mentioned websites.
- Counterparty: "MAS" Armenian-Russian JV LLC
- Executor: Head of Shengavit administrative district
Added lease_agreement · Clause 6.10
Clause 6.10: Add a new clause stating that the notification methods mentioned in clause 6.9 are considered proper and valid, and the lessee is considered duly notified upon publication on the specified websites. The lessee agrees that monitoring www.yerevan.am and www.azdarar.am is their continuous contractual obligation.
Act amendedLease agreement
Amend the lease agreement by rewriting clause 9 to specify the procedure for notifying the lessee about changes in cadastral value or rent, and the conditions for applying these changes.
- Counterparty: "MAS" Armenian-Russian JV LLC
- Executor: Head of Shengavit administrative district
Replaced lease_agreement · Clause 9
Clause 9: Rewrite to state that in case of an increase in the cadastral value of the land or rent, the lessor must notify the lessee in writing at least 15 days in advance. The new rent will be applied no earlier than 15 days after written notification. The rent will not change if the lessee notifies the lessor of early termination before the 15-day period expires.
Act amendedLease agreement
Amend the lease agreement by rewriting clause 8 to specify the annual rent and its calculation method, as well as the cadastral value per square meter.
- Counterparty: "MAS" Armenian-Russian JV LLC
- Executor: Head of Shengavit administrative district
Replaced lease_agreement · Clause 8
Clause 8: Rewrite to state that the annual rent for the land plot is 95,254 AMD, calculated as (53.9 sqm x 58,908 AMD/sqm x 2%) x 1.5 coefficient, in accordance with subparagraph 'C' of paragraph 1 of clause 40 of the appendix to the decision of the Council of Elders of Yerevan dated December 23, 2025, No. 463-N. The cadastral value of the land plot, approximated to market value, is 58,908 AMD per sqm at the time of contract conclusion.
Cadastre action requestedLease agreement
The right arising from the agreement mentioned in the first point of this decision is subject to state registration in the relevant unit of the State Real Estate Cadastre Committee.
- Executor: State Real Estate Cadastre Committee
Execution assignedOther
Organize the execution of this decision and the responsibility for it shall be entrusted to the Head of the Shengavit administrative district of Yerevan.
- Executor: Head of Shengavit administrative district
Oversight assignedOther
Ensure control over the execution of this decision by the First Deputy Mayor of Yerevan A. Pambukhchyan.
- Oversight: First Deputy Mayor of Yerevan A. Pambukhchyan

Full text

YEREVAN MAYOR
DECISION
RA, 0015, Yerevan, Argishti 1
№____________ « » 2026

ON EXTENDING THE TERM OF THE LAND LEASE AGREEMENT, MAKING AMENDMENTS AND ADDITIONS TO THE AGREEMENT

The basis for the adoption of the administrative act was the application of Hermine Dolukhanyan, authorized person of Armen Kolozyan, director of "MAS" Armenian-Russian JV LLC, on extending the term of the lease agreement concluded for the land occupied by the shop at Mantashyan street, bldg. 1/3 (certificate of ownership (use) right of immovable property dated 02.03.2006, No. 2025479).
The cadastral value of the shop at Mantashyan street, bldg. 1/3 is 12,348,614 AMD.
Guided by Article 49 of the RA Law "On Local Self-Government in the City of Yerevan", Articles 3, 53, 59 and 60 of the RA Law "On the Fundamentals of Administration and Administrative Procedure", Parts 1 of Articles 466 and 468 of the Civil Code, Decision No. 1023-N of the Government of the Republic of Armenia dated June 4, 2020, and the appendix to Decision No. 463-N of the Yerevan City Council dated December 23, 2025.

Authorize the head of the Shengavit administrative district of Yerevan to conclude an agreement with "MAS" Armenian-Russian JV LLC on behalf of the Mayor of Yerevan, in accordance with the procedure established by law, on extending the term of lease agreement No. 1113 concluded on 28.02.2006 for the land plot with an area of 53.9 sq.m. occupied by the shop at Mantashyan street, bldg. 1/3, and making amendments and additions thereto, including the following amendments and additions to the agreement:

Supplement point 16 of the agreement with a new paragraph with the following content:

"Based on the agreement concluded between the parties, the term of the agreement has been extended until September 1, 2029.".

Remove the words "including: to carry out capital construction in accordance with the procedure established by the legislation of the Republic of Armenia" from sub-point 4.2 of the agreement.
remove the words "and to alienate the fixed immovable property to the lessor under terms to be determined between the parties" from sub-point 4.4 of the contract. 4) remove the words "and to alienate the fixed immovable property to the lessor" from sub-point 5.5 of the contract. 5) supplement point 6 of the contract with new sub-points 6.7, 6.8, 6.9 and 6.10, with the following content: "6.7 In case of necessity to change the purpose of use of the leased land plot, the lessor has the right to withdraw from the contract in the prescribed manner, by notifying the lessee one month in advance." "6.8 The lessor has the right to unilaterally withdraw from this contract due to the implementation of urban development or investment programs approved by the Yerevan community or the Yerevan Municipality, or the regulation of urban development issues of yard and inter-yard areas, as well as the implementation of other programs by or with the participation of the Yerevan community, or the regulation of other issues of public importance, in which case the contract is considered terminated /ceased/ on the day following the expiration of three months from the moment the lessee receives the notification of unilateral withdrawal from the contract, and the state registration of the right of lease arising from this contract is recognized as invalid in accordance with sub-point G of point 3 of part 3 of article 35 of the Law "On State Registration of Rights to Property", on the basis of the lessor's application." "6.9 The parties hereby unconditionally agree that the lessor's written notification of unilateral withdrawal from the contract in accordance with sub-point 6.8 of the contract is carried out simultaneously by the following three methods: a) The lessor's written notification is published on the websites of the Yerevan Municipality www.yerevan.am, as well as on the public notifications website of the Republic of Armenia www.azdarar.am. b) The lessor's written notification is sent to the lessee's e-mail address (mail) - if available. c) The lessor's written notification is sent by postal delivery - by registered letter." "6.10 The parties hereby unconditionally agree and guarantee that the notification methods specified in sub-point 6.9 of the contract are considered proper and valid. Moreover, from the day of publication of the notification on the specified websites, the lessee is considered properly notified of the unilateral withdrawal from the contract. The lessee unconditionally agrees that throughout the entire period of validity of the contract, monitoring the websites www.yerevan.am and www.azdarar.am is his continuous and uninterrupted contractual obligation under any circumstances." 6) point 9 of the contract shall be set forth in the following wording: "9. In cases of change (in case of increase) of the cadastral value of the land approximated to the market value and (or) the amount of rent by decisions of the Yerevan City Council, the Lessor is obliged to notify in advance about the new value (rent)

written notice to the Lessee. In case of an increase in the cadastral value of the land approximated to the market value and (or) the rent, the calculated rent amount shall be subject to application (the contract shall be considered amended) no sooner than 15 days after written notification thereof. The rent shall not be changed if the Lessee has notified the Lessor of the early termination of the contract (withdrawal from the contract) before the expiration of the corresponding 15-day period.".
7) Article 8 of the contract shall be reworded as follows:
"8. The annual rent for the land plot, in accordance with subparagraph 1, point (g) of point 40 of the annex to decision No. 463-N of the Yerevan City Council of December 23, 2025, amounts to 95254 /ninety-five thousand two hundred fifty-four/ AMD (53.9 sq.m x 58908 AMD x 2%) x 1.5 coefficient. At the time of signing the contract, the cadastral value of the land plot approximated to the market value per 1 sq.m is 58908 AMD.".
2. Take note that the right arising from the agreement mentioned in the first point of this decision is subject to state registration in the relevant subdivision of the RA Cadastre Committee.
3. This decision may be appealed administratively to the Mayor of Yerevan or judicially to the RA Administrative Court within a two-month period from the date of its entry into force.
4. The organization and responsibility for the execution of the decision shall be assigned to the head of the Shengavit administrative district of Yerevan.
5. Control over the implementation of this decision shall be ensured by A. Pambukhchyan, First Deputy Mayor of Yerevan.

TIGRAN AVINYAN