Property Listing
Regency Residence Apartments, Ulaan Baatar, Mongolia , China
Number of Bedrooms: 1
Number of Bathrooms:
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Commodity rich country; copper, coal, gold & unexplored oil reserves.
Economy thriving, exporting to China, GDP 10%+. Domestic wealth rapidly increasing.
World’s major oil & mining companies now setup; BHP, Rio Tinto, Ivanhoe & Centerra Gold, all bringing in large numbers of executives
Mining executives & ambassadors (embassies & consulates) creating enormous demand on high-grade accommodation
Enormous demand & minimal supply; yields <20% ($16/sqm/month) with real estate appreciation growth rates at a steady 20%< 30% per annum
Regency Residence in prime city centre park-side location, by main strip & Embassy buildings. Regency Residence letting contracts to house mining executives.
Features:
Furnished
Parking
Terrace
Balcony
Amenities:
Gym
Close to Bars/Restaurants
Description: Mongolia is a country rich in natural resources, minerals and ores. With a population of only 2.5m, over 1m live in the Country’s capital, Ulaan Baatar, whilst the remainder of the population are mainly dispersed in small communities < 20,000. The growth of neighbouring China has created an 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, demand for high quality accommodation from both highprofile executives & ambassadors in Ulaan Baatar is at an all time high. With very little highgrade accommodation, and limited supply due to strict planning regulations, demand is sky-high and competition is aggressive. Rapidly appreciating land values and increasing salaries have pushed up rents so yields still top 20%. The Regency developer has contracts to house a large number of mining company executives, ensuring a maximum annual return for your investment,whilst growth continues fast.
Location
Ulaan Baatar is now a thriving city having experienced mainly commercial development in the past few years. As a result, sufficient commercial stock is now available although the same cannot be said of residential stock. The Regency Residence is located carefully in the very city centre, next to the central park, alongside the embassies and consulates, by the new Shangri-La hotel and adjacent to the main shopping and leisure strip. Mining executives living within Ulaan Baatar always work and choose to reside around the centre, although right now most are forced into sub-standard hotels. The Regency Residence will therefore provide desperately needed western-standard accommodation for all these executives, exactly where they will want it, and tenancy contracts are already in place. A minor consideration is the booming tourism industry in Mongolia, however this factor is insignificant compared to the huge shortage of quality living accommodation.
The 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 Regency Residence is providing exactly the right quality of housing for the market. With mixed use, commercial space, a health club, spa, Montessori school and large family-styled apartments (most executives like to have offices in their apartments in Ulaan Baatar) the Regency will be under huge demand. With good connections in Beijing, various interior design and furnishing packages will be available to investors. Regency Residence faces south and all apartments
with balconies enjoy prime mountain views and are shielded from the cool North winds.
Unit Types
1-bedroom apartments from £33,000 (63 sqm)
2-bedroom apartments from £55,000 (97 sqm)
3-bedroom apartments from £72,000 (130 sqm)
Construction Schedule
Completion is scheduled for June 2008
Payment Schedule
Payments will be requested according to construction progression, and only following construction status sign-off by an independent quantity surveyor.
Property Details
Setting: N/AGarage: No
Garden: No
Guaranteed Rental: No
Keyready: No
Pool: No
Investment Details
With high interest rates, this is a cash purchase, the estimated payment dates being as follows;
£2k to PF to hold
30% on reservation and signing of SPA (within 7 days)
25% on QS sign-off of construction progress up to the 3rd floor base (predicted July 01 07)
25% on QS sign-off of construction progress up to the 8th floor base (predicted November 01 2008)
20% on QS sign-off project completion key-handover etc (predicted June 2008)