Kolon Global Wins 300 Billion KRW Public Housing Project in Mongolia

Kolon Global has secured a public housing construction contract worth 295.7 billion KRW in Mongolia.

Kolon Global announced on the 4th that it received the notification of award for the Ulaanbaatar Solongo Phase 1 and 2 public housing construction projects, commissioned by the Ministry of Construction and Urban Development of Mongolia.

Phase 1 consists of 2,712 households (94,596㎡) with a contract value of 160.5 billion KRW. Phase 2 consists of 2,290 households (77,344㎡) with a contract value of 135.2 billion KRW. The total is 5,002 households, with a construction period of 41 months each.

A Kolon Global official stated, “Ulaanbaatar is a densely populated area where more than half of Mongolia’s population resides, highlighting the need for new town development. It is meaningful in that by supplying high-quality apartments to the public in Mongolia, where there is a high preference for Korea, we aim to imprint a premium brand image on Mongolian residents and lay the foundation for the success of future related projects.”