Mongolian Economy and Finance

Three months away from parliamentary elections, Mongolia's leaders are making some bold and expensive promises to turn the Mongolian dream of home ownership into reality.

Toronto, Ontario, Dec 22, 2014 (Filing Services Canada via Comtex) - Mongolia Growth Group Announces Grand Opening Of Tuguldur Center Toronto, Ontario (FSCwire) - Mongolia Growth Group Ltd. (YAK [[18]] TSXV and MNGGF - USA) (MGG) or (the Company) a commercial real estate investment and development company participating in the dynamic growth of the Mongolian economy is proud to announce that the Tuguldur Center had its grand opening celebration on Friday December 19th.

TORONTO, CANADA, May 29, 2014 (Filing Services Canada via COMTEX) -- Mongolia Growth Group Ltd. (YAK - TSXV and MNGGF - USA), ("MGG") or ("the Company") www.mongoliagrowthgroup.com , a real estate investment and development company participating in the dynamic growth of the Mongolian economy via ownership of institutional-quality commercial property assets in Ulaanbaatar, Mongolia, announces the acquisition of a centrally located retail center along with an adjoining development site in two separate transactions.

Summary

The building that has served as North Korea’s de facto embassy in Tokyo is expected to be handed over to a real estate agent after years of wrangling over its sale, a move likely to deal a severe blow to operations of the pro-Pyongyang Korean group Chongryon that has occupied the property.

The Tokyo District Court said Thursday it has rejected a Mongolian bidder’s offer to buy out the headquarters and land in downtown Tokyo of a pro-Pyongyang Korean residents’ group.

The Tokyo District Court earlier this week postponed their decision on whether or not to approve the sale of the former headquarters of the pro-Pyongyang General Association of Korean Residents in Japan or Chongryon to the “mysterious” Mongolian company that won the auction bid for the building.

Avar Limited Liability Co. of Mongolia has denied any involvement by North Korea or other countries in the company’s plan to buy the Tokyo head office of a pro-Pyongyang group, according to Mongolian media reports.

ULAN BATOR – The mysterious Mongolian company that recently made a winning auction bid for the Tokyo headquarters of a pro-North Korean association did so purely for business reasons, its president claimed Thursday.

The building which served as the former Tokyo headquarters of the pro-Pyongyang General Association of Korean Residents in Japan – also better known as Chongryon – has been bought by a mystery Mongolian firm, fueling rumors of espionage around the purchase.

Commercial real estate rents in Ulaanbaatar will more than triple within five years as increases in per-capita incomes lure international companies, said Harris Kupperman, who runs a fund that invests in Mongolian properties.

Mongolia’s central bank plans to cut interest rates on mortgages by almost half to 8 percent from around 15 percent this month, following a new policy approved by the government to ease financial burdens on the middle class.

The National Youth Committee under the patronage of the Prime Minister of Mongolia held a forum on “Apartments for young people” along with the Mongolian Youth Federation.

Benoy Architecture Company have announced they will be building the new “Olympic Residence”.

The Standing Committee on Complaints in Parliament is to hold a public announcement to control information and the implementation of the two projects “100 Thousand Apartments” and “New Reconstruction” at the Government Palace on March 19th.

Only a few years ago, Ulaanbaatar’s population reached a million people.

Ladies and Gentleman, Friends and Clients,

On December 24 and December 27 , 2012, I published two articles calling a bottom and turnaround on the price of Turquoise Hill ( TRQ ) shares, a company I had previously been negative on.

With 2011 real GDP growth at 17.3%, Mongolia has become one of the best places in the world for overseas investment. Mongolia Properties is uniquely placed to aid potential overseas investors in the Real Estate market.

By Paulius Kuncinas Regional Editor, Oxford Business Group