Mr. Vahak Hovnanian founded Hovnanian International, Ltd. in 1998, as a corporation of the Republic of Armenia, to develop residential and commercial real estate ventures in Armenia. Hovnanian International has and will continue to: create jobs; teach new and necessary skills; create opportunities for others to develop subsidiary industries and products necessary to build and furnish residential and commercial real estate; and conduct itself as a role model for the business community. Hovnanian International is now the parent company for several operating entities. Vahakni Residential Development, Ltd. is the company building and selling the single-family homes and townhouses.
Vahakni Commercial Development, Ltd. is responsible for designing, developing and operating the commercial properties and interests. Finally, Ararat Valley Country Club, Ltd. is building and operating the various facilities of the country club. Mr. Hovnanian has been the real estate pioneer for more than three decades. His companies have developed over 5,000 homes and several commercial properties throughout the United States.
In the U.S., Mr. Hovnanian is the President of family-owned companies that own and operate many businesses involved in the construction and operation of real estate related businesses. These companies include; residential home building, cable television and Internet distribution, and a personal property storage facility.
Mr. Hovnanian’s management team in the United States assists and oversees the development projects in Armenia. The key members of this team have been employed with the company for more than eight years. The wealth of experience and dedication of the key staff in the United States will assist Hovnanian International to operate at a high level of integrity and produce homes of lasting value for its customers in Armenia.