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MCC Fund to help improve Mongolian Property Rights

During the recent visit of Mongolian President N. Enkhbayar to the U.S. President George Bush at a White House ceremony, Mongolia has officially signed the US MCC aid package worth over 285 million USD in aid, a portion of that funding will be used to improve and secure the existing property rights in Mongolia as well as ownership of land. Significant part of that aid money will also go towards improving the railway and the health infrastructure in Ulaanbaatar and Mongolia. It is expected to be a catalyst to stimulate greater private sector success in Mongolia and is hope to lead to increased revenues and provide efficient sustainable services based on a market economy model.

Mongolian Properties Launches the Temple Residence

Mongolian Properties is proud to announce the launch of The Temple Residence in Ulaanbaatar. A brand new luxury residential development set in the heart of Ulaanbaatar. The Temple Residence will push the boundaries of luxury living in Mongolia with its 16 high definition apartments featuring floor to ceiling windows as well as the highest specifications and levels of luxury available internationaly.

The Temple Residence is located in the heart of the city, opposite the Choijin Lama Temple, next to the central park and the shopping district as well as the most popular Restaurant in the city, directly next to Millie’s Restaurant and within seconds of the Silk Road and the Veranda Restaurant.

Threat of Winter causes Price Surge throughout the city

Winter is finally approaching in Mongolia; snow is predicted in Ulaanbaatar within the next few days.

As a result there has been a rush for the Mongolians to buy and settle in new apartments before the full force of the Mongolian Winter hits the city. This rush to buy apartments and the subsequent spurge in price is an annual occurrence in the city, it is expected that prices will continue to rise in the next few weeks before stabilising for winter.

Mongolian Properties co-sponsors the Euromoney Mongolia Investment Forum

Mongolian Properties is proud to be a co-sponsor of theMongolia Investors Forum 2007 to held in Ulaanbaatar on the 18th of September 2007.

Over the past few years, Mongolia has opened up to foreign investments, every year more companies, funds and individuals invest in what is becoming Asia's fastest growing democracy. The Euromoney Conference Group has now held a number of sucessful Conferences on Mongolian Investment. The largest of which is the Mongolia Investment Forum of Ulaanbaatar.

Euromoney will hold a number of panels on the various avenues of investment in Mongolia, Mongolian Properties will participate in the Property Panel of Mongolia. Mr Lee Cashell, Managing Partner of Mongolian Properties will talk at event and be available for questions thereafter.

Mongolian Properties Attends the FT Summit in HK

Mongolian Properties will be attending the FT Asia Property Summit organised by the Financial Times. While Mongolian Properties will not be participating actively in the panels we are keen to meet and learn about the movers and shakers in the Asia Property Market as well as introduce Mongolia to the delegates of the summit.
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The Mongolian Rollercoaster: Ivanhoe Mines Agreement Vital for Mongolia’s Future

Over the past few weeks Mongolia has been gripped by a media frenzy; demonstrations, public speeches, lengthy articles in the country’s media are now commonplace.

All of this excitement is over a mine, but not just any mine. Oyu Tolgoi mine is considered to be the largest untapped copper and gold mine in the world. 2005 estimates put the annual yields from the mine at 450,000 tons of copper and 330,000 ounces of gold to be extracted beginning in 2010.

Delays to Construction due to Train Backlog

Sever backlog of rail freight at China's Erlian border crossing with Mongolia is causing serious disruptions to construction supplies in Ulaanbaatar. The decision has therefore been taken to cancel all freight until the backlog is cleared and all freight unloaded.

Mongolian rail officials expect no shipments from China from August 7 through the 17th.

The problem may be the result of government decisions to increase Mongolian building projects in 2007. As Mongolia has neither trucking or air freight systems, all materials must be brought by rail.

Local Builders Demand a Level Playing Field, End to Corruption

Article courtesy of the UB Post, Written by B.Bulgamaa

Thursday, June 21, 2007.

EVEN as people wait impatiently for the completion of the government program “40,000 family apartments” not one of Mongolia’s biggest 20 construction companies thinks that the program, started with a fanfare, will be implemented successfully. The big players in the sector are unanimous that they are hamstrung by widespread corruption and the red tape of the state bureaucracy.

These views were expressed at a seminar held last week at the conference hall of the National Chamber of Commerce and Industry.
J.Erdenechimeg, Executive Director of Lightweight Concrete, said the country had around 1,000 construction companies and if the Government shared the responsibility among them, each will be able to build 40 apartments within a year. He complained that instead of giving the job to local builders the Government was inviting foreign companies to do the work, adding to the cost. It is a question of good management keeping the national interest in mind.

Is the UB Real Estate Market heading for Saturation?

With all the construction cranes and sites currently dominating UB it is hard not to wonder if the real estate market will not soon be saturated.

It is a fair question, with a small population of around a million citizens in UB will there really be such high demand for high end property in such a short space of time? It currently seems that everyone and their grandmother is in the construction business, the problem is that this is very true, everyone and their grandmother, people have heard that the real estate was booming and so tried to take a share of pie, sadly of the 100 or so developpers in the city, less than 10 are professional companies.

The great majority are rogue developers who made their money elswere and are now trying to build something to take part in the construction boom. A lot of those developers will actually never finish their buildings due in part to rapidly rising costs of construction but also due to their lack of planning and financial engeneering skills. The result of this will be that UB will be filled with poor quality construction as well as a great number of unfinished construction sites as it already the case today.

Constuction progress halted in Ulaanbaatar due to train crash

Construction on nearly all of the main building sites of Ulaanbaatar has either slowed down or stopped during this past week. The reason for that is a sever shortage of concrete. Mongolia has a grand total of 6 locomotive which operate on its railway system. 2 of which were already out of action due to maintenance and old age, this left the country with 4 locomotives. 2 are required to pull passenger trains and 2 are required to bring commercial goods to UB from china. Sadly last week 2 of the 4 collided with the result that they are now both out of action. The cement supplies came from China thus supplies have now run out in UB. Alternate supplies are being arranged by truck but this is more expensive and slower due to a shortage of trucks and the great distances involved. It is expected that 2 chinese locomotives will soon take the relay and bring up the much needed supplies to Ulaanbaatar so that construction may resume.