The Housing Finance Corporation has been restructured under the name of the State Housing Corporation SOE under the Resolution No 253 of the Government of Mongolia dated 6 July 2013 for the purposes of intensifying the activities to provide citizens of Mongolia with safe, sound and affordable housing by the State with expansion of its operation in place within the framework of implementation of the New Development mid-term target program and the Government Action Plan for years of 2012-2016.
MISSION: To provide population with safe, sound and affordable housing through the implementation of the comprehensive set of policies on investment and financing.
GOAL: To implement the Government’s housing policies to provide population with safe, sound and affordable housing and preferential policies for target group.
MAIN OPERATIONAL OBJECTIVES:
- Get building constructed for and on behalf of the State in territory of Mongolia;
- Great housing fund under the state ownership and exercise its possession, use /rent and allocation to the citizens/ and management;
- Get engineer infrastructure built and constructed and renew for residential block and micro district to be built and constructed by the corporation and play the client’s role and pay control on implementation;
- Rent and sell complex residential blocks and micro districts, square and area with commercial trade and service center which was built and constructed at the corporation’s subscribtion;
- Study opportunity and conditions to implement domestic and foreign investment projects in order to provide target group with housing and process and develop proposal to implement feasibility study, budget and project;
- Organize activities to implement housing grant and subsidies policies within the framework of the Government’s housing programs;
The State Housing Corporation SOE has successfully commenced several housing projects and programs during the past period according to the action plan to implement “New Development” mid-term target program. For instance, the company has fully completed “Buyant-Ukhaa 1” housing district within one year.
Within the framework of the program “Provide middle-low income citizens with affordable housing” of the Government, the company has successfully commenced a major housing project such as “Buyant-Ukhaa 2” and more projects in 7 provinces of Mongolia under the program “1000 housing units in each and every provinces of Mongolia”.
There are pending several major projects on building of new towns and districts:
- Phase II of Buyant-Ukhaa 2 project
- “Eco-Yarmag” Redevelopment project
- “G7” housing project.
The financing of above projects shall be solved both by the Government’s funding and funding from other financial sources, by means of loans and equity investments.
Taking into consideration, the Government of Mongolia is paying utmost attention to the success of its housing programs and policies and that thousands and thousands of households are in need of proper housing, there are the great prospects for the development of housing finance, construction and associated businesses in Mongolia.
By considering these opportunities, we invite foreign investors to cooperate in the fields of project financing as well as of land, housing and infrastructure development of Mongolia on the mutually rewarding basis.