No doubt 2020 was a challenging year for every business, Mainly due to the pandemic that hit the global markets. Unfortunately, Armenians have also witnessed a terrible war for 43 days against Azerbaijan in the Nagorno-Karabakh Region located on the borders of Armenia that ended by signing a peace deal between both parties brokered by Moscow and with the deployment of more than 2500 Russian peace makers in Karabakh between the borders of Armenia and Azerbaijan making Armenia more secure than it was before.
With all the challenges we passed thru, Our Investments in Armenia kept on growing due to 3 major factors:
- Armenia has more than 8 million Diaspora which are always investing in Armenia despite the geopolitical situation.
- Our Real Estate investments are very close to Yerevan and yet very affordable, imagine that with 10,000 USD our clients can start investing in Real Estate by owning plots 15 minutes away from Yerevan.
- Huge part of our 2020 Investment funds were allocated in our agriculture business, demand for investors to enter the agro business was big this year. Armenia has 2.974 million ha of land, of which 2.043 million ha is considered agricultural land with unlimited water supply in most of the villages.
Before the pandemic the economy in Armenia was growing so fast in all sectors; Hospitality, Tourism, Real Estate, Banking, Agriculture even Manufacturers were growing fast which made it very hard for us to invest due to the big demand and made us feel that we started to miss the opportunity. unfortunately for some, the economical clock has stopped due to the pandemic putting several industries in a critical situation.
As for us, on a business level we found that the freeze that happened due to the pandemic gave us time to fix our ranks and to focus on what we do best, invest!
We strongly believe that in 2021 once the clock starts ticking again, Armenia will be back on track, like any other growing country before the pandemic.
— Angelo Hani, CEO Kingsmen