The “Zhoghovurd” daily writes: “The “Zhoghovurd” daily continues to study the declarations of community leaders on their property, income, expenses and interests and present them to the public.
This time, the focus of the “Zhoghovurd” daily is on the head of the Sisian community, Hovsep Arakelyan.
Hovsep Arakelyan assumed the position of head of the Sisian community on October 27, 2024.
According to the declaration, at the beginning of 2025, Arakelyan had three real estate properties in his name: an apartment in the Sisian community of Syunik province, owned in shares, an apartment in the Avan administrative district of Yerevan, owned jointly, as well as a plot of land in Sisian, which is his sole property.
The aforementioned properties have not changed during the year, and there is no information in the declaration on the acquisition or alienation of new real estate.
In terms of vehicles, at the beginning of 2025, the community leader had three cars: a 2020 Nissan, a 2005 Opel, and a 1999 Mercedes-Benz. However, the Opel was sold during the year.
The declaration states that the 2005 Opel was sold on December 26 for 3 million drams. At the end of the year, the Nissan and Mercedes-Benz remained in his name.
Arakelyan also declared an investment. The value of the “Other” type investment purchased in 2022 was 60 thousand drams at the beginning of the year, and 68 thousand 440 drams at the end of the year.
His financial resources have also changed. The balance of the bank account was 242 thousand 729 drams at the beginning of the year, and 21 thousand 786 drams at the end of the year. At the same time, cash has increased from 6 million drams to 8 million drams.
As for income, Hovsep Arakelyan declared a total income of 11 million 497 thousand 633 drams in 2025. Of this, 6 million 635 thousand 981 drams is his salary from the Sisian Municipality staff, 3 million drams is income from the sale of a car, and 1 million 861 thousand 652 drams is income tax refund.
At the end of the year, the total balance of his loan obligations amounted to 22 million 105 thousand 359 drams. Including, the balance of the principal amount of one loan amounted to 194 thousand 790 drams, and the loan related to the apartment amounted to 21 million 910 thousand 569 drams.
In 2025, payments directed towards the repayment of loans amounted to 3 million 691 thousand 115 drams.
The declaration also mentions commercial activities for Hovsep Arakelyan’s family members. An adult cohabiting with him, Hrach Arakelyan, has a 50 percent stake in the company “Arakel,” and Elada Ivanyan has a 50 percent stake in the same company. Hrach Arakelyan is the director of “Arakel.”
The declaration also mentions that Hovsep Arakelyan is a member of the “Civil Contract” party.
In addition, “Arakel” LLC signed a construction contract with Fast Bank CJSC in 2025 for the reconstruction and renovation of the area of 42 Sisakan Street in the city of Sisian for 46 million 993 thousand 420 drams.
The contract was signed on February 26, 2025, and the actual amount paid also amounted to 46 million 993 thousand 420 drams.”
More details in today's issue of the newspaper
