Source: Eurasia Capital                  Date: 03 June, 2011

Real estate will be the sector most attractive to investors after mining, according to Mr. Marat Utegenov, Executive Director of Mongolia Development Resources, an MSE-listed property and infrastructure developer. The company raised MNT13.2 billion at an IPO on MSE in December 2007, and is currently one of the few listed companies which provide non-resource exposure to investors. Growing per capita income plus more advantageous mortgage terms will ensure rapid expansion in the property sector. As business grows more office space will be needed, and the company is focusing on Ulaanbaatar and second-tier cities such as Erdenet, Darkhan, and Dalanzadgad. It has acquired land IN Dalanzadgad to construct a 6-story building with a conference hall, office space and fully serviced apartments. The project is to be completed by 2012Q1 for sale and rent.