Properties / Luxury Homes

Focus: The Village @ Nukht, Mongolia

We go to Ulaanbaatar in Mongolia to check out luxury property named The Village @ Nukht.

Jun 08, 2016 | By Domenica Tan

Mongolia is among the best performing economies in the world over the past 10 years and has high Gross Domestic Product (GDP) growth rates forecast for the coming years, making it one of the most desirable and promising countries for foreign investment. The Village @ Nukht is effectively timed to take advantage of Mongolia’s rapid retail and residential development, adding liveliness to Nukht Valley, one of the wealthiest areas in Ulaanbaatar.

Mongolian real estate is thriving due to foreign investments in the mining industry and a growing middle class. Average commercial rental prices in the city have been rising from a range of $15-$35psm to $35-$70psm between 2009 and 2013, presenting the opportunity for investors to receive double digit net rental yields; capital appreciation are expected across all real estate classes. The market also boasts an investor friendly legal and tax framework, with existing large scale infrastructure projects driving the economy.Mongolia-Palace-Article-ariel-view

The Village @ Nukht is a project by Asia Pacific Investment Partners (APIP), an award-winning agency that focuses on strategic real estate development and projects around the country. The Village, in conjunction with other projects under development, puts Nukht well on its way to becoming the most desirable area outside the city center. As the Nukht Valley community has no commercial or retail space within two kilometres, The Village @ Nukht is a 10,000m2 luxury mixed use development to meet the retail and entertainment needs of the affluent in the region. Situated 500 metres off the Yarmag Road, the development is accessible to and from the Chinggis Khaan International Airport and the Central Business District of Ulaanbaatar.

Luxury penthouses were constructed in late 2012. The design of the eight luxurious penthouse suites are inspired by the Village’s surrounding, reflecting the rustic nature of the Nukht Valley. Units have been designed to have rooms which are naturally lit. Occupants can enjoy views of the countryside from their home.Mongolia-Palace-Article-2

The eight different penthouses range from 119m2 to 243m2 in size. The largest of the eight — Penthouse A — features three bedrooms, three bathrooms, and a patio. The spacious sundeck parallels living in resort-style accommodations. The Village aims to create a relatively tight knit residential community where homeowners are given the prerogative to decide regarding maintenance etc.

Furthermore, the easy access to nearby grocery stores, shops, and entertainment venues will provide a lively atmosphere. The residential development is complemented with 27 large retail spaces, a supermarket, nine food and beverage outlets and 12 offices amongst many others.Mongolia-Palace-Article-3

APIP has highlighted that it is confident of yielding 12 per cent rental for foreign investments in The Village @ Nukht for the first two years. This is coupled with high-expected project returns (IRRs in excess of 25%) and expected capital appreciation of up to 20 per cent forecast per annum, making the development an extremely viable and attractive investment opportunity.

In fact, the Village has already generated wide interest from both national and international retail agencies, and rental demand is high. While 50 per cent of investors are Mongolian, the other half is foreign — individuals from across Asia, the UK, and the US have expressed vested interested in the development. Aside from residential units, retail and commercial units are also available for sale.Mongolia-Palace-Article

Quick Facts

  • – Yarmag, where the Village @ Nukht is sited, is shaping up to be a profitable investment destination. Sales prices of residential real estate are expected to double over the next five years.
  • – International investors enjoy the same rights over immovable property assets as Mongolian citizens. Foreign investors are free to inject or remove capital from the
    country at will, and there is no capital gains tax.

BUYER INFORMATION

Development The Village @ Nukht

Location Ulaanbaatar, Mongolia

Developer Asia Pacific Investment Partners

Price USD $ 1.2 – 2.0 million

Highlights Luxury penthouses Views of the countryside Spacious sundeck 27 large retail spaces The Market @ Nukht is a place where customers can find an offering of quality fresh produce, international imports, prepared foods and preparations adapted to western and international tastes. Nine food and beverage outlets 12 offices Brauhaus Pub Wedding and Reception Hall with stained glass windows

Price US$2,505psm

Date of Completion Summer 2014

Contact www.apip.com

Gema Gerelsaikhan: [email protected]

  • This story was first published in Palace Magazine.
 
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