Real Estate Boom in Mongolia - Golden Opportunities Not To Be Missed
December 25, 2005 (PRLEAP.COM) Business NewsLondon, UK, December 25, 2005 — In the heart of the city lies the embassy district, beating anew with exciting developments, landscaping and clean air while offering the best views of the mountains and easy access to the central business district. In the heart of it will be the latest and most exciting development in Ulaabaatar yet.
The Regency Residence is set to be the most luxurious and unique property in Mongolia upon its completion at the end of 2007.
The improvements embody so much of what anyone would expect from a luxury residential complex, including intelligent design with high speed internet access, open spaces for time with family and friends, new places to dine and shop, and a heightened level of customer service.
It will feature restaurants, shops, a gym and sauna, reception and concierge services as well as a children’s playground area.
Mr Lee Cashell, an intrepid american entrepreneur who is the managing partner and developer of this property has been in Mongolia for the past 4 years developing properties and investing in numerous schemes, he is confident that the Regency Residence will be the most talked about property of the country.
The Regency Residence will consist of 97 luxury apartments and penthouses spread over 13 floors.
The interior design of the Regency Residence will be done by Harold Thompson. With over 40 years of domestic and international luxury hotel and residential properties design experience, Harold Thompson places great emphasis upon the need to incorporate the interior design with an understanding of the building operations and their relationship to the technical disciplines.
The architects are Min Woo Architects Inc. with a thirty year history of building unique and innovative structures, Min Woo and his team of architects bring a wide array of experience drawn from structures including luxury residence buildings, resorts, office complexes, monuments and showrooms.
The privileged neighbourhood of the embassy district becomes even richer with the arrival of the Regency Residence. Unmatched privacy, incomparable service, and exquisite views combine to make this a truly remarkable place to live.
Each of the apartments and penthouses is an uncompromising exercise in excellence. Bamboo hardwood flooring flows luxuriously from one room to the next. Closet rooms abounds throughout while the finest fixtures and textures adorn every kitchen and bath.
Various interior design and furnishing options will be made available as well as management of apartments for overseas investors by the Mongolian Properties Corporation.
There are a number of attractive options available to a foreign investor:
Buy a property now at the low rates mentioned above and sell it back upon completion of the building when the prices are expected to reach in excess of USD 950 per square meter for the apartments.
Buy one of those exciting properties and let the experienced management company rent it out at a very high rate with a nearly guaranteed 15% rate of return without mentionning the capital gain.
There are a number of reasons why this opportunity should not be missed:
1.) Ground Floor Opportunity
Get in at the beginning of the resource and economic expansion in Mongolia
2.) Tremendous Value
Own for considerably less than you would in other cities in Asia, North America or Europe
3.) Easy Access and Security
Located in the city centre with high security for a comfortable safe environment for your family
4.) The Great Outdoors, Right Out Your Door
Located beneath the Bogd Khaan Mountain Range and just 35 kilometres from the Mongolian Resorts Lodge
5.) An Experienced Development Team
With the local hand on expertise of Mongolian Properties and Asia Pacific Investment Partners coupled with the design dynamo of Harold Thompson and Min Woo the Regency Development will have proper leadership
6.) Excellent Timing
You’re in a position to get in on the ground floor of this opportunity before word gets out about the Regency Residence
7.) Quality Design - Quality Craftsmanship
Appealing Central Asian inspired architecture, quality construction and beautiful interior finishes combine to create an enduring legacy
8.) Interior Design and Furnishing Options with Full Management
Various interior design and furnishing options will be made available as well as management of apartments for overseas investors by the Mongolian Properties Corporation
9.) High Capital Gain and Rental Yield Potential
Current low prices and economic growth in Mongolia underpin a strong property market and current demand for rental apartments create a good opportunity for income
Foreigners are allowed to own property however they are not entitled to own land. Therefore most foreigners purchase apartments that come with an ownership certificate. There are no real estate taxes per say however there is a sales tax of 2% when a property is sold. We cover all of the necessary paperwork including the legal services.
Mongolia is quickly becoming their future source of resources for the growing Chinese economy. This has brought in many mining companies almost all of which are increasing their number of foreign personnel. At the moment there are not enough apartments to house them in and therefore the rental yields in Mongolia are about 15-17% per annum.