Land ownership registration in the name of Almast OJSC  worth  approximately $132,000 invalidated - Prosecutor General`s Office

ArmInfo.The  Department for the Protection of State Interests of the Prosecutor General's  Office successfully upheld their claim in the Administrative Court on February 13, 2026. The state registration of property rights in the name of Almast OJSC, which was completed on March 17, 2006, has now been invalidated.

According to the press service of the supervisory agency, the  Prosecutor General's Office had filed an appeal to the court to  invalidate the state registration of property rights in the name of  Almast OJSC. The registration was completed by the Cadastral  Committee at 28 Rubinyants Street, Yerevan and covered an area of  1,296 square meters. Once the court decision enters into legal force,  the Republic of Armenia will have a right to a land plot with an  approximate cadastral value of 49,623,000 drams, equivalent to  approximately $132,000.

 The Almast OJSC, formerly the Almaz artificial diamond and diamond  tool factory, was founded in April 1964. In July 2001, the company  was privatized by the International Business Center Joint Venture  CJSC.  In May 2009, it was reported that one transaction was  concluded on the NASDAQ OMX Armenia Stock Exchange for the purchase  and sale of 152 shares of the Almast OJSC (ALMS) for 30,400 drams at  a weighted average price of 200 drams. The opening, closing, maximum,  and minimum prices were also 200 drams.