The construction site is ideally located in a new business district in Ulaanbaatar about 1km north of the Diet building, the Mongolian zero point (central location).
As the name “Smart Office” suggests, this 18-story building embraces relatively small compartments (22.75m2 at minimum) for small- and medium-size businesses (SMBs) on floors 3 through 16. The average age of the Mongolian population is low at just 27 years, so the majority of businesses based in Ulaanbaatar are start-ups, ventures, and SMBs. However, while there are many premium office properties in today’s Ulaanbaatar, the number of small properties suited for SMBs is not sufficient.
Thus, this project is truly meeting real demand.
Room layouts are differentiated from other office properties, yet they are equipped with all the business necessities of office buildings, including a Wi-Fi connection, shared meeting rooms, modern facilities, a parking lot, and AI elevators.
Construction was led by a Japan-Mongolia joint venture under thorough quality control and process management by staff of a Japanese constructor that visited the site monthly.
As of now, while only four months have passed since its completion, the occupancy rate is already above 40% and we have received more inquiries than expected (as of March 2018).
This building is attracting many potential tenants in Ulaanbaatar.
|Property Name||PRO-3 SMART OFFICE|
|Country / City||Mongolia / Ulaanbaatar|
|Location||Nogoon nuur Avenue, 7th Micro-district, 11th khoroo, Sukhbaatar District Ulaanbaatar, Mongolia|
|No. of floors||18|
|No. of condominiums||126|
|Completion time||November 2017|
(A joint venture of SIBJ Financial Group Co., Ltd. and Master Properties LLC)
|Facilities and conditions||- Wi-Fi connection
- Shared meeting rooms
- Parking lot
- AI elevators
- Other modern facilities
|Area||22.75 - 91.73 m2|
|Price||4.5 - 18 million JPY|
|Key points||- Completed on schedule in November 2017
(Occupancy rate is already over 40% after four months since completion (as of March 2018)
- 8% rent yield guaranteed
- Rent income starts the month following payment
(late handover charge before handover)
- Buy-back option after five years
(at the same price as the purchase price)