Armenia's construction industry continues to accelerate. According to the Statistical Committee, the volume of work performed in January–October 2025 reached 551.4 billion AMD, an increase of 20.6% compared to the same period last year. In October alone, contractors mastered over 89.2 billion AMD, which is 20.1% more than last year's result.
The state remains a key investor in infrastructure: 145.2 billion AMD was financed from the budget, which is 26.3% of the total volume and 38.2% higher than in 2024. Funding from communities increased by 28.4% and reached almost 28 billion AMD. The population also increased investments in construction — 120.1 billion AMD (+14.9%).
Organizations provided 46.5% of the total volume of construction work — 256.3 billion AMD, which is 15.5% higher than last year. But projects implemented through international loans showed a decline of 11.8% — their total volume amounted to 32.5 billion AMD. The largest tranches came from the Asian Development Bank (14.6 billion AMD), while the programs of the World Bank, EBRD, EIB and the German Development Bank were more modest.
The main growth was provided by three directions. In the first place is activity related to real estate: 279.6 billion AMD, or 50.7% of all construction activity. This is followed by transport projects (71.4 billion AMD, 13%) and education (63.6 billion AMD, 11.5%). They form the basis of the current investment cycle in the country.
Given the ongoing infrastructure programs and the expansion of private sector participation, experts expect that construction dynamics will continue at least until the end of the year.
