Vertical Mobility and Safety Improvement

Although the rights and obligations of the building owners and residents are governed by the Constitution of the Republic of Armenia, the Civil Code and other legal acts, the management of commonly shared property in multi-apartment buildings in Yerevan is not effective, since there is a mismatch between the ownership title of the assets and the owner’s perception regarding the maintenance obligations. Nevertheless, the local government is still willing to improve the commonly owned private property through public borrowing. ADB should continue to introduce sustainable institutional approaches into solutions developed.