A portion of loan from South Korea to be spent on Rental Apartment ProgramSociety
Ulaanbaatar /MONTSAME/ The Ministry of Construction and Urban Development intends to continue the Rental Apartment Program, which is designated for the target groups of elderly people and young families.
972-apartment building for rental purpose is under construction in Buyant Ukhaa-2 apartment complex. A portion of the USD 500 million loan from South Korea will be spent on the program.
Furthermore, the corresponding Ministries are studying possibilities and experiences from Asian countries and exchanging views with them on attracting investment from international market by issuing certified mortgage bonds. It is estimated to be possible to issue bonds secured by asset-backed loan of MNT 4.2 trillion.