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Construction of Buyant Ukhaa-2 town launches

By M.ZOLJARGAL

Buyant Ukhaa-1 government housing project construction has been recently completed and residents are expected to move in soon. Following the project, Buyant Ukhaa-2 town’s groundbreaking ceremony was held on Monday with the same objective to supply reasonably priced apartments to citizens with average income.

Buyant Ukhaa-1 covers 4.6 hectares and will become home to 1,764 households. The town has a kindergarten for 120 children and a 380 square meter service center. According to authorities, Buyant Ukhaa-2 town will be built on a much bigger scale, on 28 hectares of land to accommodate 7,000 households in total.

The town will have 48 nine-story apartments for 54 households each, and 60 12-story buildings for 72 households each. Also, four kindergartens for 960 pre-schoolers, two general education schools for 1,880 students and a seven-story garage will be built at Buyant Ukhaa-2.

Apartments for 3,000 households and a kindergarten for 240 kids will open by next year in the first phase of the project.

National Development Corporation (NDC) LLC, which executed the construction of Buyant Ukhaa-1, has been selected as constructor for Buyant Ukhaa-2.

The corporation comprises of Delta Construction LLC, BUTI LLC, ECC LLC, Ulaanbaatar Barilga LLC and Erelt Impex LLC.

General engineer of NDC B.Enkhbayar commented, “The town will be constructed with the latest technology which are known for lasting results. All the construction materials will be purchased from national manufacturers to support domestic economy.”

 

The following is a brief interview with executive director of Mongolian Housing Finance Corporation (MHFC) A.Gantulga about the town’s construction plans.

 

Buyant Ukhaa-2 will be a very big development project compared to Buyant Ukhaa-1. How will MHFC manage the budget issues?

The required budget for Buyant Ukhaa-2 construction will be drawn from the Chinggis Bond fund. A large sum of financing will be required for sure, as it is a very big project which will house 7,000 households. Buyant Ukhaa-1 financers will provide the budget for the first phase of the town that will house 3,000 households. We are planning to draw investment from both foreign and national investors for the second phase.

How much financing is required for the construction in total?

Approximately 500 million USD.

Will price per square meter be the same as Buyant Ukhaa-1 for Buyant Ukhaa-2?

It is too early to talk about the price as of now. It will be set shortly before the opening. But I can assure you that the price will be lower than the average market price as the core purpose of this development project is to supply reasonably priced apartments for citizens.

There are many criteria that citizens will have to pass to purchase apartments in Buyant Ukhaa-1. Will there be similar criteria for Buyant Ukhaa-2?

We will try to apply as little condition as possible for purchase, but we can’t tell for sure until the construction is completed.

Short URL: http://ubpost.mongolnews.mn/?p=9334

Posted by on May 27 2014. Filed under Domestic. You can follow any responses to this entry through the RSS 2.0. Both comments and pings are currently closed.

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