Businessman Gagik Tsarukyan has increased his real estate portfolio by one property, purchasing a plot of land between his well-known house in Arinj and the Multi gas station.
The auction took place in December 2024. For the 10.5-hectare plot, which is essentially an apricot orchard enclosed by stone and metal fencing, Tsarukyan paid 425.7 million drams—the auction’s starting price, reports Factor.am.
According to his 2024 asset and income declaration, submitted as chairman of the political council of the Prosperous Armenia Party, Tsarukyan now owns 25 properties: 13 plots of land in Arinj, Tsaghkadzor, Proshyan, and Verin Ptghni; an apartment in central Yerevan; two other fixed structures in Arinj and Sevan; a house in Arinj; and eight other buildings in Arinj and Tsaghkadzor that have not been officially registered. The unfinished buildings were acquired between 2004 and 2015.
Tsarukyan declared 19 vehicles, including BENTLEY, ROLLS-ROYCE, BMW, RANGE ROVER, TOYOTA, MERCEDES-BENZ, NISSAN, and JEEP. All were purchased except for one—a RANGE ROVER gifted to him on June 20, 2023.
The Prosperous Armenia party leader has provided loans totaling 24.5 billion drams, €96.6 million, $53.8 million, and 754.4 million rubles to 55 organizations and individuals. The recipients include the Investigative Committee of Armenia, which received 1.055 billion drams from Tsarukyan, 55 million of which were transferred in 2024. The purpose of this loan is not specified in the declaration, and the Committee requested a written inquiry before answering. Last year, Tsarukyan purchased valuable property worth $1.088 million, without specifying its nature.
He declared a total of 50 valuable items (worth over 4 million drams each), including gold watches with diamonds, gold rings with diamonds, furniture, chandeliers, and curtains—worth a total of $12.6 million and €6.5 million. Notably, one curtain alone was valued at €251,799.
By year’s end, his bank accounts held €3.7, $279,900, about 7 million drams, and 239,000 rubles. His cash holdings amounted to €4.7 million, $31.6 million, and 1.8 billion drams. In 2024, Tsarukyan earned a total of 11.6 billion drams.
The Prosecutor General’s Office of Armenia is seeking a court order to confiscate from Tsarukyan and his affiliated persons 79 properties, the market value of another 10 properties legally owned by Tsarukyan, 42 vehicles, the purchase value of eight unidentified vehicles totaling 348.194 million drams, about 33 million drams in relinquished claims, shares in 39 legal entities, rights to loans worth 63 billion drams, loans totaling about 16.8 billion drams to 12 unidentified individuals and legal entities, and 86.4 billion drams representing income from the use of illicitly acquired property and other unexplained payments, transfers, and expenditures.
