Distrikt Sustainable IT Hub in Gyumri

The Distrikt has already had a significant impact on the City of Gyumri, generating notable economic output, supporting jobs in the IT sector, and will contribute large amounts of labor income across different industries furthermore planning to expand by creating Distrikt Sustainable IT Hub in the city. In order to continue this growth, the company will be making a massive investment in people, education, technology research, infrastructure, agriculture, and the development of Gyumri plus the Shirak region. The Distrikt Sustainable IT Hub will be located in the former 7th fortified region in Gyumri in the place of an abandoned military unit covering 21 ha of territories. The company has adopted United Nations' SDGs as a core pillar of the business model and has set an ambitious goal –plus become the 1st fully SDG compliant community in the world. The project’s future development and modernization comprise over 50 IT start-ups, an artisan center & manufacturing studios, retail stores and apartments, green areas and farming center, visitor serving amenities and facilities, and many more. The Distrikt will create 500-800 permanent jobs in the IT sector, retail, and hospitality industry. It expects to host annually up to 10,000 tourists, digital nomads, as well as more than 20 IT-oriented events & festivals. The overall project development cost is estimated at $20,000,000 for both land/infrastructure and entrepreneurial startups. The initial stage will cover investments of $2,000,000 and cover a 5-year-plan, including but not limited to the infrastructure development, planting of 15,000 trees, a dozen buildings for IT start-ups, a main co-working facility, a creativity center for art & design, a collaboration workshop for light industrial production, office rentals, 5 greenhouses, restaurants, cafes, entertainment venues and much more.

Required investments

$2,000,000

778 000 000֏

Profitability

18%

Distrikt Development CJSC