“New Construction Development” program, developed by the Government of Mongolia, was approved by SGK on June 25 2010. The program will be implemented together with “Smokeless Ulaanbaatar” and “100 thousand household” programs.
The funding for this program, to be implemented in 2010-2015, will be made from six resources, such as pre-payment from mining projects. The most attractive and interesting project is a new apartment block district, planned to be built at Yarmag and Nisekh area (south western part of UB, on the way to Buyant Ukhaa International Airport), and this newly planned apartments will be distributed to the public through soft loan or mortgage arrangements.
This project will be implemented through MHFC (Mongolian Housing Finance Corp.) which is in charge of 4000 household program. “100 thousand Household Program” will be available not only for state servants and workers; it will be open to every Mongolian citizen who complies with the requirement.