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Economy / Mongolia News / Politics / Real Estate / February 10, 2015

City Mayor, E.Bat-Uul: Land is resource of foreign exchange

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Today, the World Bank introduced the study result that conducted under the framework of population growth, urban expansion and the current land regulatory, land and real estate markets and management policy of Ulaanbaatar city to the City Governors.

The World Bank study finds that land-utilization is low in Ulaanbaatar city. Thus, it recommended to manage land-utilization by more density than extending inefficiently. In accordance with low density at ger district, infrastructure cost and operating costs are high. However, debt will be granted when density increase in ger destrict.

City Mayor E.Bat-Uul said: “For example, we had connected eastern slope of Zuragt and Damdarjaa to the sewerage system supported by Asian Development Bank (ADB). Due to high operating cost, low-income families could not use and it left burried. Thus, we should increase the density.

Second, The World Bank highly recommend us to improve registration system. Land is resource of foreign exchange and we need to certified it by The World Bank. Thus, we will attract huge source from international financial market and able to develop the city.

We will need $ 9.8 billion in infrastructure development until 2030. Thus, we need to confirm resource of foreign exchange by the World Bank.”

James Anderson, the World Bank’s Country Manager for Mongolia said: “The World Bank study shows the advantages and disadvantages that need to be addressed. The advantage is people who moved to the city was granted land to reside. However, as a low-density city, infrastructure poses problem. Moreover, it is important to grant the lands efficiently and transparently. Proper land management is helpful for residents.”

SOURCE: Mongolia.GoGo.mn




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