In June 2013 the Bank of Mongolia (BoM), the country’s central bank, introduced a new mortgage scheme, which is widely expected to boost home ownership rates substantially in the coming years. Under the new framework interest rates on mortgages for qualifying buyers have been set at a fixed rate of 8%, plus or minus one point depending on...
Construction
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Interviews & Viewpoints | OBG talks to E. Jargalan, CEO, Erel Group from The Report: Mongolia 2014
Articles & Analysis | Adding capacity: Boosting domestic capabilities in preparation to take on a more central role from The Report: Mongolia 2014
The rapid expansion of Mongolia’s economy in recent years has had a knock-on effect on construction activity across the country. According to World Bank data, the construction industry grew by more than 25% over the course of 2012, primarily as a result of a handful of government-led infrastructure and housing investment programmes. While local...
Chapter | Construction & Real Estate from The Report: Mongolia 2014
Although the construction sector faces a number of challenges, such as the lack of a well-trained local workforce and low levels of domestic materials production, the sector is expected to benefit from increasing government investment in housing and infrastructure. Mongolia has a severe lack of affordable housing, and addressing this shortage is expected to be a major driver of construction...
Since the country’s transition from communism two decades ago, the Mongolian economy has experienced rapid liberalisation. Sectors including ICT and insurance are expanding quickly and, while the mining sector has been responsible for making Mongolia a rising star in the global economy, there is great potential for further growth in all economic sectors.
Articles & Analysis | Still growing: Infrastructure plans and demand for property drive the sector forward from The Report: Indonesia 2014
Increased government investment in infrastructure has helped to unleash a boom in Indonesia’s construction sector. With rapidly growing demand for residential real estate, office buildings, industrial estates and other property across the archipelago, the construction sector is tagging along for the ride.