Construction & Real Estate

The Mongolian construction industry has seen a surge of activity in the past two years. The driver is government spending, particularly the New Development Programme, which will address roads, railways, affordable housing, rural development and industrial development schemes, with a price tag of some $28.6bn. One key part of this is the 100,000 houses project, which represent an attempt to offer modern, affordable housing to the many citizens who still live in traditional gers. This will address some of the huge demand for homes in Ulaanbaatar. On the upscale front, luxury real estate is a growing market aiming to tap into the fortunes that will be created through the mining projects. This chapter includes an interview with D. Ganbaatar, President, Max Group.