After a highly competitive international tender bid, Nikken Sekkei, has signed a Letter of Agreement (LOA) with Mongolian development company Mon Uran LLC, to design a landmark tower in the capital Ulaanbaatar.
The agreement which was signed at MIPIM international real estate show, (11 March 2014) requires Nikken Sekkei to design a mixed-use project that will cost in excess of $200 million once completed. The tower will situated in 1.1 hectares of prime city center real estate, with a built up area of 110,000 square meters, situated just 10 minutes’ walk from Sukhbaatar Square, the location of the Government House.
The tower will reach almost 300 meters 68 floors and will feature a five-star hotel, serviced apartments, high quality office space and a shopping mall. Ulaanbaatar is home to about 45% of Mongolia’s 2.8 million population and the contemporary tower is intended to be a symbol of modern Mongolia, its economic growth and aspirations, when it is completed in December 2018.
Commenting at the signing ceremony, Mrs. Batsukh Oyunchimeg, CEO, Mon Uran, said, “We agreed that MIPIM would be an ideal international platform for us to sign our agreement and we intend to showcase the project here next year. However the actual contract execution ceremony will take place later this month in Ulaanbaatar.”
“We choose Nikken Sekkei because this project requires high quality and vision and we believe that they have the right credentials to deliver such a design,” added Mrs. Oyunchimeg.
Nakamura Mitsuo, Chairman of Nikken Sekkei Group, said: “This is not our first project in Mongolia, so we do have experience of balancing modern corporate design culture with cultural design expectations. This tower is to be a symbol of economic growth in Mongolia, so smart building technologies and sustainability will be critical to our overall design philosophy.”
Mongolia has enormous mineral wealth, which currently represents more than 80% of its exports, a proportion expected to eventually rise to 95% and about 3,000 mining licences have been issued. Mongolia was never listed as an emerging market until February 2011 when analysts at Citibank determined Mongolia to be one of ‘Global Growth Generators’ effectively those countries with the most promising economic growth prospects for 2010–2050.SOURCE: Nikken Sekkei