Armenia plans to begin construction of a 2.8-kilometer lakeside promenade along Lake Sevan in 2027, Urban Development Committee Chairman Yeghiazar Vardanyan announced during parliamentary discussions of the draft state budget.
The promenade will be 6.5 meters wide and stretch from the Harsnakar resort area to the Sevan Peninsula. The project is currently undergoing comprehensive expert review.
Vardanyan said the committee’s proposed 2027 budget totals approximately 5.115 billion drams, of which 3.36 billion drams is earmarked for the Sevan promenade and residential construction in Stepanavan.
The Stepanavan project envisages 15 apartment buildings in the Ashotaberd neighborhood of Lori Province by 2028.
Another 283.23 million drams is planned for 2027 to develop a zoning plan for the coastal areas of Lake Sevan’s catchment basin. The project’s total estimated cost is 404 million drams.
According to Vardanyan, the plan will establish clearer construction requirements and land-use rules, balancing economic development with the lake’s environmental characteristics.
The draft budget also allocates 268 million drams to modernize construction standards and adapt relevant European Union regulations to Armenian conditions.
Approximately 1.16 billion drams is designated for the committee’s operating expenses, with an additional 30 million drams for strengthening its professional and organizational capacity.
