EBRD boosts sustainable homes and greener living in Mongolia

• EBRD providing up to €25 million loan to Tavan Bogd Holdings
• Financing supports construction of green residential and commercial complex in Mongolian capital Ulaanbaatar
• Project will boost sustainable construction practices in the country

The European Bank for Reconstruction and Development (EBRD) is providing a local currency loan of up to €25 million equivalent to Tavan Bogd Holdings to finance the construction of a green residential and commercial complex in Mongolia’s capital Ulaanbaatar.

The project will support development of the first phase of the Gerlug Green Complex, which will include 252 apartments – providing new living space for around 1,000 people – as well as retail and commercial facilities hosting approximately 30 businesses. With total gross floor area of about 76,300 square metres, the complex will contribute to the city’s efforts to improve housing quality and address urban density.

Gerlug Green Complex expects to be one of Mongolia’s first green-certified real estate developments, targeting international certification from EDGE (Excellence in Design for Greater Efficiencies) and aiming to exceed local standards for energy and water efficiency.

In addition to its environmental benefits, the project will promote skills development in Mongolia’s construction sector through specialised training programmes in sustainable building techniques, digital construction and advanced engineering practices.

The EBRD has invested more than US$ 3 billion (€2.6 billion) in Mongolia through 166 projects. Around 90 per cent of this funding has been used to support private-sector companies.