Ulaanbaatar
Frontline civil servants to be involved in rental apartment program
Society
Ulaanbaatar /MONTSAME/. At its regular meeting convened today, May 20, the Cabinet adopted a resolution on providing public servants and special civil servants with rent-to-own apartments.
Within the framework of the resolution, the Minister of Construction and Urban Development and Ulaanbaatar City Mayor were ordered to develop a special program designed for allowing front-line civil servants in the COVID-19 response under conditions of high risk to own apartment through rental purchase, and ensure prompt implementation.
Around 1300-1600 apartments available on the market are calculated to be purchased through open selection within the program to be provided to the above-mentioned civil servants under the rent-to-own contract, and the Ministry of Finance, Bank of Mongolia and Capital City Housing Corporation will be in charge of settling the issues related to the funding required.
Not only this measure will give support and assistance to the civil servant workers helping others during the COVID-19 pandemic and their families, it is also expected to help loans in the construction industry avoiding to go bad and turn unsold apartments into economic circulation, while keeping the employment stable.
As of today, over 3000 households have been provided with apartments within rental apartment program run by the Capital City Housing Corporation.
