Vahagn Arsenyan, appointed on October 9 as the new governor of Armenia’s Vayots Dzor province, has declared ownership of luxury real estate and substantial financial assets in his latest 2024 filing with the Corruption Prevention Commission.
According to Factor.am , Arsenyan owns apartments both in central Yerevan and the United Arab Emirates, expensive watches, and holds $1.5 million in cash. He reported over 888 million drams in income for 2024 alone and spent more than 170 million drams on leisure.
He owns 24 real estate properties solely in his name. In the past year, he purchased two apartments in Yerevan worth 33 million and 190 million drams from Jermuk Group. He also sold two properties in Yerevan, a parking spot and an apartment, to Armen Tsaturyan for a total of over 420 million drams.
Six of his properties in Jermuk were acquired just one day before he assumed the role of acting community head.
By the end of 2024, his assets included:
- 8 apartments (6 in the UAE, 2 in Yerevan)
- 9 land plots (in Jermuk)
- 3 parking spots (in Yerevan)
- 3 commercial buildings (in Jermuk)
- 1 non-residential unit in a multi-apartment building (UAE)
In late 2024, he sold a Rolls-Royce (185 million drams) and a Toyota (85.8 million drams), both released in 2022. He also reported using three vehicles: two 2024 Toyotas and a 2023 Hozon.
He holds shares in four companies. Some of his stocks were gifted by his father, Ashot Arsenyan, former mayor of Jermuk (1996, 1999, 2002) and a former MP from the Republican Party of Armenia. Ashot Arsenyan has directed the Jermuk mineral water factory since 1993 and left the Republican Party in 2018.
Vahagn Arsenyan declared three loans:
- 30 million drams to his wife, Mery Arsenyan
- $50,000 to Technoman LLC
- A 247 million dram loan taken from Jermuk Group CJSC, 190 million of which he repaid
He also reported receiving luxury watches from Jacob & Co and Patek Philippe in 2023, with no value specified.
In September 2024, Arsenyan purchased a SAKO hunting rifle for 6.5 million drams. While his bank account showed just 6,076 drams at year-end, his cash reserves were significantly higher.
