Overview
- Very high yields at 13%
- Strong potential for high capital appreciation at 30% per annum
- Commodity rich country with copper, coal, gold & unexplored oil reserves
- GDP 7.5% in 2006 and domestic wealth rapidly increasing
- World’s major oil & mining companies creating huge demand for luxury city centre accommodation
- The Temple is in prime city centre location with views over Ulaan Baatar’s Central Park
- A combination of residential and commercial space within The Temple
- Clean title, secure freehold ownership and diligent planning regulation processes
- Banking sector confidence booming and interest rates falling rapidly
Description
Mongolia is a country rich in natural resources, minerals and ores. The growth of neighbouring China has created enormous demand for minerals such as copper, coal and oil, which has fuelled a rapid growth in entrepreneurial business in Mongolia. With global mining companies such as BHP, Invahoe & Rio Tinto now opening operations, very little high-grade accommodation, and limited supply due to strict planning regulations demand for high class accommodation from both high-profile executives & ambassadors in Ulaan Baatar is at an all time high. Rapidly appreciating land values, increasing salaries and a huge demand for good quality accommodation continue to drive rents upwards, with yields of around 15% still being achieved.
Location
The Temple is perfectly located in the very centre of the capital, overlooking the central park. Situated between the Main Library, the Memorial Museum and the National Theatre, the development is next to the site for the new forthcoming Shangri-La hotel and adjacent to the main shopping and leisure strip. The Temple will provide desperately needed western-standard accommodation for ambassadors, government employees and executives, exactly where they want it.
Properties
Developed by Mongolia Properties, with over 250 employees in Mongolia ranging from property management to letting agent firms, and with very solid connections to the planning department, The Temple provides the necessary quality of housing for the market. The Temple offers both commercial and residential facilities, and large family-styled apartments as most executives like to have offices in their apartments in Ulaan Baatar. Various interior design and furnishing packages will be available to investors.
Payment Schedule
2-bed Apartments - 131m2 from €131,000 (£85,000)
3-bed Apartments - 143m2 from €143,000 (£95,000)
Payments will be requested according to construction progression, and only following construction status sign-off by an independent quantity surveyor. As interest rates in Mongolia are exceedingly high, this is a cash purchase. The estimated payment dates are as follows:
- £3,000 Reservation Deposit needed to reserve the Unit (part of purchase price)
- 30% (less reservation deposit) on signing of Sales & Purchase Agreement
(within 14 days of reservation)
- 25% on skeleton completion (predicted Nov 1st 2007)
- 25% on enclosure (no interior finish completed) (predicted Feb 1st 2008)
- 20% on completion (predicted June 1st 2008)
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Economic
Overview 
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