Investment Projects, Business Armenia Artek Resort and Adventure Park Complex | Page 5

Project Description This project suggests creating a modern resort complex in the territory of former “Artek” international pioneer camp located in Vanadzor, Lori Marz. The camp previously had several buildings that currently are not functional and are recommended to be demolished. The main building, however, should be reconstructed and used. The total area of “Artek” is 5,3 hectares. The complex will include a hotel and an aerial adventure park. The hotel will occupy 5,200 sq. m and will include 70 rooms and 5 cottages. The park will offer many entertaining activities, such as: archery, all terrain scooter riding, biking, forest survival courses, trampolines, a children’s playground, horse riding and other activities. Besides, rope courses with a unique blend of wooden platforms built on top of the surrounding trees and connected by exhilarating combinations of ropewalks, obstacles, climbing elements, and zip lines will be available for visitors. Vanadzor has a population of about 90.000 people and is the third largest city in Armenia. Surrounded by lofty mountains and located between Tbilisi (Georgia) and Yerevan (Armenia), Vanadzor has a great potential to become an easily accessible resort city offering quality services for affordable prices to local and international tourists alike. With its stunning landscape, green mountains and mild weather, Vanadzor has already become a lovely summer destination, where tourists have a chance to stroll around and enjoy nice weather, organize picnics with family and friends, have a great time in pubs and cafes and admire beautiful nature. Still, the full potential of Vanadzor city hasn’t been realized yet: it can offer much more in terms of diversifying its services, improving service quality, as well as becoming an exceptionally attractive winter destination. Vanadzor is an ideal winter sports destination since it has heavy snowfall, but mild temperature with plenty of daylight. In contrast with other resort areas in Armenia, 4