Property News · November 29, 2016

This Mongolian property firm is conquering a market near you


From Ulaanbaatar to the world
The ambitious plans are a far cry from traditional Mongolian yurts. Image: HelloRF Zcool/Shutterstock
An Ulaanbaatar-based developer is announcing its arrival to the global stage in a dramatic way.
Asia Pacific Investment Partners (APIP) is seeking to list on the London Stock Exchange’s AIM board next month. The initial public offering will fund the expansion of its portfolio and the introduction of mortgage loans, the company revealed Monday in a statement.
Next on the company’s sights is the Burmese market. APIP has begun the incorporation of a domestic real estate agency business in Yangon, part of an overseas expansion that will be “cautious, research driven, agency led.”
“We have spent the last 15 years in the Mongolian market building what we believe is the country’s only vertically integrated property development company,” said APIP CEO Lee Cashell. “Our research driven model provides us the insights necessary to take advantage of future opportunities in frontier markets.”
Sukhbaatar Square in Ulaanbaatar, Mongolia. Tooykrub / Shutterstock.com
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In addition to its plans in Myanmar, APIP hopes to expand its research coverage to 15 emerging and frontier markets via its new Propeterra unit.
In Mongolia, where it has eight land bank lots, APIP is currently securing permits to begin construction on two middle-income residential projects, Circus Residence and Oasis Residence, located in the Mongolian capital’s CBD.
Construction is also underway on Park Place, a mixed-use project that will feature an 8,000-square-metre shopping mall, a 125-room luxury hotel, and luxury apartments. It is set for completion in 2020.
Around 60 percent of Mongolia’s populace still live in traditional ‘ger’ tents, according to APIP, citing a 2010 government census.
Read next: Mongolia plans to launch this futuristic eco-metropolis by 2030

Source : property-report.com
Read more…This Mongolian property firm is conquering a market near you

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