Our History | Vahakni Residential Community

Our History

Vahakni Region is the realization of a dream. The moment Armenia became a free and independent country, Vahakn S. Hovnanian, a successful property developer from the United States with over 60 years experience, wanted to build a proper housing community with world class standards in the post soviet country.  Instead of knocking down existing soviet built buildings and displacing families from the capitol city’s center, Hovnanian chose an expansive site within the city limits with views of the biblical Mount Ararat. However, the site was a challenge for development. As a result of neglect over many years,  debris had gathered over parts of the site which took a significant amount of time, resources and effort to clean and restore the historical fruit orchard to its natural beauty.

The Vahakni Region plan encompasses over 150 hectares with single family homes, townhouses, and mansion style condominiums, and a planned and approved smart city with of 525,000 m²  of structures including apartments, hotel, office, educational, retail and and state of the art tech development commercial  space thoughtfully designed into unique & efficient architectural solutions. The region is divided into 4 quadrants. Each contains different types if construction with villas, cottages, and town-houses of different architectural styles, as well as improved, fully connected land lots, the man-made irrigation Lake Shant, an outdoor shopping mall and Ararat Valley Country Club with its swimming pool, mini golf, golf driving range, and 9 hole executive golf course, 2 professional tennis courts, football fields and a restaurant/clubhouse. The region began in 1998 with the golf course, the first homes in 2001.  Growing at a consistent and steady pace, the Vahakni region has become an integral part of Yerevan.