Olympic Residence Apartments for sale in Ulaan Baatar – Mongolia
- The Olympic Residence apartments are located in a tranquil part of the city centre overlooking the park.
- Mongolia is the home to the world’s largest underdeveloped copper mine,
- Major mining companies like BHP, Ivanhoe and Rio Tinto are opening branches in Mongolia.
- The Capital appreciation in Mongolia has been and continues to be strong
- Mongolia’s GDP growth was 9.9% in 2007
- Highest quality standards of living and recreational facilities in the in the capital city
- Mongolia has a large coal industry as well as gold & oil reserves
- Land shortages in Ulaanbaatar have created huge demand for housing
- It is estimated that the capital requires up to 4,000 houses per year
Mongolia is a vast and sparse country, it is the second largest landlocked country in the world, however only has a population of 3 million, of which 1 million live in the country’s capital Ulaanbaatar.
Until recently only 15% of the country’s landscape had been explored, and in recent years vast mineral deposits have been discovered including the world’s largest underdeveloped copper and gold mine, which when completed is predicted to double the countries GDP. The mining industry has already attracted more than 200 international companies and now employs almost 40,000 people.
Mongolia’s economy was strengthened in 2007 showing growth in all sectors. Overall in 2007 GDP grew by 9.9%, this growth is expected to continue.
The capital, Ulaanbaatar, is the financial, industrial and cultural hub of Mongolia. Due to infrastructure limitations on the outskirts of the city has a shortage of land to build on. This has led to a housing shortage, leaving Ulaanbaatar requiring up to 4000 homes per year until the infrastructure is updated.
The Olympic is ideally located in the city centre overlooking the beautiful central park, in the embassy district and next to the Hilton hotel (currently under development). Whilst the Hilton will provide the business travellers ideal night-stop-overs, The Olympic will be the residence of choice for all those ambassadors and executives based in the country looking for a western-standard accommodation. Directly behind The Olympic are the embassy and main shopping districts as well as monuments of interest such as the Memorial Museum and the National Theatre.