Tsaghkadzor's City Centre Transformed as New City Projects Unveils Revitalised Tsaghkunyats Square

On October 23, a grand opening ceremony was held in Tsaghkadzor to mark the completion of the reconstruction of the city's central Tsaghkunyats Square. The extensive redevelopment was undertaken by New City Projects as part of the development of its Pallada multifunctional residential and hotel complex. The completely transformed square was presented by the developer as a gift to the city, its residents and visitors.

The opening ceremony was attended by Armenia's Minister of Economy Gevorg Papoyan, Mayor of Tsaghkadzor Narek Harutyunyan, representatives of national and local authorities, members of the clergy, New City Projects management and staff, the company's partners, and residents and visitors of Tsaghkadzor. The celebrations featured a concert by popular singer Arkadi Dumikyan, which attracted a large audience. Renowned performers Super Sako and Armenchik also took to the stage.

Following the extensive reconstruction, the resort city's central square has acquired a modern appearance, offering a more comfortable setting for relaxation, walks, social gatherings and cultural events.

The redeveloped area covers a total of 2,400 m², including 1,000 m² of landscaped green spaces. New features include walking paths, custom-designed benches, a fountain, art installations and sculptures inspired by Tsaghkadzor's natural surroundings. One of the key additions is a multifunctional event space designed to host concerts, city celebrations and other events. During the winter months, it can also be used as an ice-skating rink.

The transformation of the central square is particularly significant for Tsaghkadzor, long recognised as one of Armenia's leading ski resorts and now developing into a year-round holiday destination. The revitalised public space is expected to become another attraction for residents and tourists visiting the city throughout the year.

The redevelopment of Tsaghkunyats Square reflects New City Projects' approach to real estate development, which extends beyond the construction of modern residential complexes to improving the surrounding urban environment.

"For several years, New City Projects has been developing a major project in Tsaghkadzor – the Pallada multifunctional residential and hotel complex. It was important to us that the development of this project should also bring positive changes to the urban environment. That is why we decided to completely reconstruct the central square as a gift to Tsaghkadzor, its residents and its many visitors. Our aim was to create a modern, attractive and comfortable public space where people of all generations could relax, meet, spend time with their families and take part in the city's cultural life," said Vahe Davtyan, CEO of New City Projects.

In the heart of Tsaghkadzor, at 5 Tsaghkunyats Square, New City Projects is developing one of its largest projects – Pallada, a premium multifunctional residential and hotel complex. The development will comprise eight buildings combining residential apartments, hotel accommodation and extensive amenities designed for year-round leisure and living.

Planned facilities include a gym, swimming pool, spa centre, two padel courts, a landscaped courtyard, 24-hour concierge and security services, underground parking, a ski equipment storage and drying room, a supermarket, cafés and restaurants, a children's zone and indoor playroom, parking facilities for all-terrain vehicles and snowmobiles, a sky bar, and a helipad.

An important milestone in the project's development was the establishment of a partnership with the international hotel group Best Western Hotels. Three buildings will operate under the Best Western Premier brand: Building 7 as a hotel, and Buildings 6 and 8 as apartment buildings. Buildings 1 through 5 will operate in accordance with Best Western Hotels' standards.

The development of the Pallada complex and the creation of a modern public space in central Tsaghkadzor are expected to contribute to further improvements in the city's infrastructure and enhance the appeal of one of Armenia's leading year-round resorts.