Apartment to be built on the site of Narantuul’s burned down food market’s area
Three months ago, a fire broke out at the food market of the Narantuul Trade Center leaving around 400 vendors with financial losses. Compensation for the losses remains unresolved.
Below is an interview with Sh.Saikhansambuu, owner of the Narantuul Centers and former parliament member about the cost of damages and compensation for the incident.
-How much damage did the fire at Narantuul cause? Who will compensate the losses of traders?
-The fire was caused by faulty electrical wiring. Experts are still working to determine the total cost of the damages. When the losses are determined with evidence, we will compensate a certain portion of the losses.
-What will be built in place of the burned down food market section?
-I was originally planning to build an unprecedented trade center at the area, as I have 20 years of experience in the trade sector. The designs for the new building have been created by Swiss architects. We originally intended to start construction in the spring of 2014, once it is approved by the Ulaanbaatar authorities, but the fire delayed it to fall of 2014.
-What kind of design will the new center have? How much are you planning to spend on the project?
-According to our estimation, around 80 million USD will be the required financing. It will cover six hectares of land where the market was located. As for the ruins of the burnt market, we are planning to construct a 16 to 24 storey apartment for 6,000 households. We have submitted our construction plans to the Ulaanbaatar City Administration and received relevant approvals.
-Was this planned after the fire occurred? It’s been only three months.
-I mentioned that I made plans to start the construction in spring of next year, which means that we have planned the project for several years now.
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