Mongolian Economy and Finance

WITH a portfolio of projects stretching from Morpeth to Mongolia, Gradon Architecture is a local firm with a global outlook.

Mark Reginelli , director of world trade for 84 Lumber, and two contractors are preparing to travel to Mongolia with the mission of building three model homes in three days.

May 27 (Bloomberg) -- When Mongolia's government introduced a new mortgage law it not only helped more people to own homes, it also gave the country's construction sector a huge boost -- effectively creating a whole new market.

Nikken Sekkei, has signed a Letter of Agreement (LOA) with Mongolian development company Mon Uran LLC, to design a landmark tower in the capital Ulaanbaatar.

This year, the construction sector set a record for buildings rising left and right in the capital city. We interviewed the Deputy Minister of Construction and Urban Development, G.Baigalmaa, about the ministry’s operations.

Strong demand from both the public and private sectors will keep Mongolia’s construction industry busy for the foreseeable future, though the heavy calls on the building trade is stretching resources and pushing up costs.

Ulaanbaatar /MONTSAME/ The Prime Minister N.Altankhuyag Monday ran the "Hours of great construction" meeting to get au fait with a construction works of an international airport in Khoshigt Valley, Tov aimag.

One of the sectors allotted with a relatively big budget from the state revenue is the construction sector, although the price of apartments and houses are still increasing, and far more than half of the population is still living in ger districts using coal and carrying water from wells.

Granite, which widely exists in Mongolian soil, is usable stone in the construction sector as it is of high quality and has the potential to absorb flood water.

South Korean delegates led by the CEO of Korea’s Kyeryong Group, Lee Sikoo, are paying an official visit to Mongolia.

The government announced that the Central Bank of Mongolia has granted a soft loan of 100 billion MNT to construction cement and reinforcement suppliers, as part a government project to decrease housing prices by reducing the cost of key construction materials.

An international exhibition and conference titled “Construct Mongolia 2013” will be held at the Children’s Palace in Ulaanbaatar on June 13 and 14, to provide an opportunity for sector officials and companies to meet and discuss ways support the expansion of the industry.

With the construction season about to begin, the Shine Oron Suuts (New Housing) 2013 Housing Exhibition was held at the Mongolian Trade Union’s Cultural Palace.

The Ministry of Construction and Urban Development and the Agency for Fair Competition and Consumer Rights signed a 370 billion MNT soft loan agreement with construction material suppliers today, on the condition that the suppliers keep their prices stable until October, the end of construction season.

British architecture and design firm Benoy is increasing its already considerable presence in Asia with a new luxury mixed-use development in the ultra high-growth market of Mongolia.

A new project titled ‘Joint Center of Soums’ has been established with the aim of improving developing infrastructure in rural areas and slowing the flow of migrants into Ulaanbaatar.

On yesterday’s meeting of the government, the programme to support construction material production has been approved.

On December 12 the Prime Minister of Mongolia, N.Altankhuyag, announced a policy to provide cheap apartments for young couples.

On Wednesday, the Minister of Construction and Urban Development, Ts.Bayarsaikhan, informed the press of the new policies to be adopted by the ministry.

The following is an interview with the president of the Mongolian Builders’ Association M. Batbaatar, translated from the Daily News Newspaper.