Capital city to found its Housing Corporation

Ulaanbaatar /MONTSAME/ A working group responsible for the establishment of a Capital city's Housing Corporation was formed on Tuesday, under an ordinance of the City Governor. The Housing Corporation will carry out actions aimed at opening of housing opportunities for employed youth not able to save enough money to buy an apartment or to pay its up-front fee. The working group led by S.Ochirbat, a deputy chairman responsible for city development and investments at the Governor’s Office, will study international experiences in implementing affordable housing programs and will develop related rules and regulations on the establishment of the "Capital city's Housing Corporation", which has been included in Ulaanbaatar Governor’s action plans, as well as in the city’s economic and social goals for 2014.