Our History | Vahakni Residential Community

Our History

Vahakni Residential Community 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 centre, Hovnanian chose a gorgeous site within the city limits with views of the biblical Mount Ararat. Unfortunately,  that site had been blighted by its former use as the city dump for decades.  The first two years were spent cleaning the landfill and restoring the environment to its natural beauty.

The Vahakni Residential Community plan envisages construction of 700 homes: single family homes, townhouses, and mansion style condominiums, and a development within a development of 2300 apartments and commercial units with upgraded state of the art infrastructure and original architectural solutions. The district is divided into eight sections with villas, cottages, and town-houses of different architectural styles, as well as improved, fully connected land lots ,  the man-made reservoir 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 district began in 1998 with the golf course, the first homes in 2001. Ever growing at a slow, but steady pace it has become an integral part of Yerevan.

Now Vahakni offers not only beautiful houses and a superbly improved environment, but also a quiet, safe, and healthy lifestyle. In its 17 years of existence, Vahakni Residential Community has built more than 300 houses with about 1200 residents, with many, many more under construction.