Apartments in Ulaan Baatar, Mongolia

Apartments from £87,600

Olympic Residence,
Ulaan Baatar,
Mongolia

1 Bed Apartments from £87,563

2 Bed Apartments from £131,036

3 Bed Apartments from £200,661

4 Bed Apartments from £242,269

5 Bed Apartments from £476,435

  • The Olympic has a tranquil position in the city centre overlooking the park
  • Mongolia is home to the world's largest underdeveloped copper mine,
  • Major international mining companies like BHP, Ivanhoe and Rio Tinto are opening branches
  • Capital appreciation has been and continues to be strong
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Summary
  • The Olympic has a tranquil position in the city centre overlooking the park
  • Mongolia is home to the world's largest underdeveloped copper mine,
  • Major international mining companies like BHP, Ivanhoe and Rio Tinto are opening branches
  • Capital appreciation has been and continues to be strong
  • Mongolia's GDP growth was 9.9% in 2007
  • Highest quality standards of living and recreational facilities in the in the capital city
  • Mongolia has a large coal industry as well as gold & oil reserves
  • Land shortages in Ulaanbaatar have created huge demand for housing
  • It is estimated that the capital requires up to 4,000 houses per year

Description

 Mongolia is a vast and sparse country, it is the second largest landlocked country in the world, however only has a population of 3 million, of which 1 million live in the country's capital Ulaanbaatar.

Until recently only 15% of the country's landscape had been explored, and in recent years vast mineral deposits have been discovered including the world's largest underdeveloped copper and gold mine, which when completed is predicted to double the countries GDP. The mining industry has already attracted more than 200 international companies and now employs almost 40,000 people.

Mongolia's economy was strengthened in 2007 showing growth in all sectors. Overall in 2007 GDP grew by 9.9%, this growth is expected to continue.
The capital, Ulaanbaatar, is the financial, industrial and cultural hub of Mongolia. Due to infrastructure limitations on the outskirts of the city has a shortage of land to build on. This has led to a housing shortage, leaving Ulaanbaatar requiring up to 4000 homes per year until the infrastructure is updated. Top

Location

 The Olympic is ideally located in the city centre overlooking the beautiful central park, in the embassy district and next to the Hilton hotel (currently under development). Whilst the Hilton will provide the business travellers ideal night-stop-overs, The Olympic will be the residence of choice for all those ambassadors and executives based in the country looking for a western-standard accommodation. Directly behind The Olympic are the embassy and main shopping districts as well as monuments of interest such as the Memorial Museum and the National Theatre. Top

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Property

 The Olympic Residence will stand out as an iconic building on the Ulaanbaatar skyline, at 18 storeys high it will be the tallest building in the city. The building will contain over 100 apartments varying from 85sqm apartments to 6 bedroom 460 sqm penthouses, all finished to a high standard. As well as the residential units the development will also house a shopping centre, restaurants and a food court that will entice the residence of ulaanbaatar.

Based on the current rental rates the apartments should generate a net yield of at least 10%.

Property Frontiers has an exclusive allocation for the development with discounted prices starting from €1,200 per sqm, which equates to approximately £88,600 for a one bedroom apartment. Top

Amenities

  • Garage
  • Apartment
  • Lift
  • Gated Security
  • Car Parking
  • En-Suite
  • Balcony
  • Fully Furnished
  • Air Conditioning
  • Swimming Pool
  • Restaurant
  • Café
  • Bar
  • Stunning Views
  • Parks

Payment Schedule

  • A Reservation Fee of €4,000 is required to secure your unit.
  • The Sale and Purchase Agreement (SPA) will be sent from the developer with
  • The Buyer then has 24 working days from receiving the SPA to sign and retu
  • 30% of the total purchase price plus 30% of the garage price

Pricing & Availability

Size (SQM)Purchase PriceMonthly IncomeAnnual IncomeGross YieldManagement FeesNet Yields
92.3€110,760€1,385€16,61415%€2,23713%
144€216,00€2,160€25,92012%€3,49110%
170€255,900€2,559€30,70812%€4,13510%
204.3€326,880€3,065€36,77411%€4,95210%

Gallery

Floor Plans

Site Plan

  • 2 Bed Type B 2 Bed Type B
  • 1 Bed - Type D 1 Bed - Type D
  • 3 Bed - Type C 3 Bed - Type C
  • 4 Bed Type-A 4 Bed Type-A
  • 5 Bed Type-P 5 Bed Type-P
                                                               (Click Image to enlarge)

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