History of the State Housing Corporation

07 March of 2006

The Government of Mongolia has decided to establish “The National Housing Center” according to the Government’s Resolution No.37 and it was established by the Decree No.32 of the Minister of Construction and Urban Development on 17th March, 2006 in order to implement the Government’s program “ 40.000 housing units” within the framework of policy on providing medium and low income citizens with affordable housing.

23 August of 2006
The Government of Mongolia decided to establish the Mongolian Housing Finance Corporation according to the Resolution No.200 dated on 17th October, 2006 and it was established by the joint Orders No.196/372/567 of the Ministry of Construction and Urban Development, Ministry of Finance and Mayor’s Administration of Ulaanbaatar city.

The Mongolian Housing Finance Corporation (MHFC) implemented the housing project of “40.000 Housing units” approved by the Resolution No.69, 2006 of the Parliament of Mongolia and Decree No.191, 2006 of the Government of Mongolia between years of 2007-2009 in order to build housing districts and provide middle and low-income citizens who need affordable housing with housing, to improve their living conditions and to increase a job positions in the field of construction.

Within the framework of the program the company had successfully built a total of 1531 housing units so far in 21 provincial centers and 60 soums of the country and sold to the citizen with mortgage loans.

Since the start of the implementation of the “4000 Housing Units” program for civil servants in the beginning of 2010 the company has successfully granted 4300 civil servants low-interest rate mortgage loans. The company has cooperated with more than 130 construction companies which have significantly benefited financially thanks to the sale of the housing units built by themselves within the framework of the program further overcoming the economic crisis faced in the construction industry in a short space of time.

06 July of 2013
The Housing Finance Corporation has been restructured under the name of the State Housing Corporation under the Resolution No 253 of the Government of Mongolia dated 6 July 2013 for the purposes of intensifying the activities to provide housing to citizens of Mongolia by the State with expansion of its operations in place.

We have financed the construction of the 1764 housing units in the Section A of the Buyant Ukhaa-I District within the framework of the New Development mid-term program implemented by the Government for Changes.

Also we have launched a construction of 1000 housing units in each and every province of Mongolia within the framework of the Action Plan of 2012-2016 of the Government for Changes and first opening ceremony of the construction of first housing block has been organized in Orkhon province.