The capital city of Armenia is Yerevan. Yerevan is the largest and most populous city in Armania. The estimated 2006 population was 2,976,372. It located on the shores of the Hrazdan River. Yerevan is a leading cultural and industrial center for the country of Armenia and it is the home to many American and other international based companies. Many bank headquarters are located there such as Lycos and the American Stock Exchange. Because of its beauty and ideal climate, it is a city of choice for vacationers and many celebreties. Jermaine Jackson (Michael Jackson's brother) is currently planning on building a big, luxurious, five star hotel and entertainment complex in Yereven. As a result of this type of modern development, many of the older buildings and homes are being destroyed. Therefore, many of the citizens of Yerevan are against the expansion and development of their beautiful city.