In 1998 Vahagn Hovnanian built the "Vahagni" district in Yerevan.
The Diaspora businessman, public figure and philanthropist Vahagn Hovnanian passed away.
He was famouse for his charity projects in Armenia which were directed towards the development and preservation of Armenian culture and also the development of tourism in Armenia.
Hovnanian founded an Armenian school with his wife Hasmik Hovnanian in New Milford, promoted the solution of the educational and religious problems Armenian community in the north-east of the USA. In 1998 Vahagn Hovnanian built the "Vahagni" district in Yerevan. In 2000 he founded the competition after Sayat-Nova , in 2002 the "Vahagni" competition in Armenia.
