About Park Place
Park Place is planned to be a mixed-use development located in Ulaanbaatar’s CBD that is expected to contain luxury condominiums, a luxury shopping mall and a luxury hotel. The residence will feature a concierge, an attended lobby and security. Based on current plans, it is estimated to have a total GSA of approximately 42,500 sqm and to be a nightlife and lifestyle destination. The residential space will comprise approximately 59% of total GSA, the retail space will comprise approximately 18% of total GSA, the hotel will comprise approximately 18% of total GSA, and the parking will comprise approximately 5% of total GSA. The Group is currently exploring options for management of the hotel, including the potential involvement of internationally recognised hotel brands. The Group is currently awaiting final permit approvals. The Directors expect construction to begin in April 2017 and targeting completion of the development for 2020.