Asia Pacific Investment Partners is a research-driven emerging and frontier markets real estate company with a strong track record in Mongolia. Founded in 2001 by Lee Cashell and Tsendsuren Bordukh, the group has focused on the development of luxury and middle-income residential and retail properties in Ulaanbataar. As at 30 June 2016, the group had completed development of approximately 47,000 sqm in GFA of real estate across five developments. ‘The group currently has approximately 38,000 sqm in GFA under construction on one site. Additionally, APIP has control over land holdings capable of delivering up to 500,000 sqm.
To date, APIP has successfully designed, completed, marketed and sold finished properties in five major developments in Ulaanbaatar: Mon House Residence in 2005, Park View Residence in 2007, Temple View Residence in 2010, Regency Residence in 2010 and Village at Nukht in 2014. Apart from the above developments, we’re currently under development or expected to begin in the near term on Olympic Residence completing in 2017, Oasis Residence completing in 2019 and Park Place completing in 2020.
Park Place
Completion date
2020
About project
Park Place is planned to be a mixed-use development located in Ulaanbaatar’s Central Business District 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. The development will have a total GSA of approximately 42,500 sqm, of which residential space will comprise 59%, retail space 18%, hotel 18% and parking 5% of total GSA.
Oasis Residence
Oasis Residence
About project
Oasis Residence is a residential development located in the heart of Ulaanbaatar’s entertainment district. The development will have three floors of retail space, six floors of 18 residential apartments and will provide underground parking, an attended lobby and security. Construction on the project is expected to begin in November 2016 and expect the development to be completed in December 2017.
Olympic Residence
Olympic Residence
About project
The Olympic Residence is a luxury condominium project located in the Embassy district, which will feature penthouses with terraces, separate entrances for residential and retail spaces, concierge service, an attended lobby, security, underground parking and luxury retail and entertainment space. The development will have residential GSA of approximately 27,500 sqm and commercial GSA of approximately 5,215 sqm at the base of the building, and will feature 92 luxury apartments, four floors of luxury retail space and two floors of underground parking. Currently, the exterior of the development has been completed, interior construction is on-going, and the project has received all permissions necessary to complete the development, including permission to connect to the Ulaanbaatar heating grid. The Directors expect the development to be completed in the first half of 2017.
Village @ Nukht
Village @ Nukht
About project
Located between Ulaanbaatar and Chinggis Khaan International Airport, this development is nestled in a small valley adjacent to the Bodg Khaan Mountains. Nukht has traditionally served as a holiday destination for former government officials and their families. In recent years, a number of prominent families and affluent Mongolian businessmen have relocated to the area and have built large, Western-style, single-family homes and condominiums.In 2014, the Group completed the Village @ Nukht, a mixed-use residential and retail development in the prestigious Nukht Valley just outside of Ulaanbaatar. The Village @ Nukht was the first dedicated "lifestyle mall" in Mongolia, incorporating a mix of indoor and outdoor space. The commercial space of Village @ Nukht is spread over two floors and contains 18 retail units, five restaurants, a pub, a supermarket, a gym, ten office units, and a wedding and banquet hall. The third floor contains eight luxury penthouses for residential use.
Regency Residence
Regency Residence
About project
In 2010, APIP Group completed the Regency Residence with 15 floors consisting of 104 luxury apartments and three floors of mixed-use retail and commercial space that contains two restaurants, a supermarket, a gym, office space, a drycleaner and underground parking facilities. Regency Residence was one of the first full-service residential condominiums in Mongolia featuring an attended lobby and concierge service.
Temple View Residence
Temple View Residence
Completion date
2010
About project
In 2010, APIP Group completed the Temple View Residence, a mixed use development located in Ulaanbaatar’s Embassy District. Designed by a Finnish architect, the development consists of 16 luxury apartments and one floor of office space and has features, including higher ceilings and larger windows, that were new to the local market compared to other buildings being built in Ulaanbaatar at that time. This was the first project that the Group managed from inception to completion.
Park View Residence
Park View Residence
Completion date
2007
About project
Completed in 2007, Park View Residence is APIP's second development project. Unlike majority of development projects in Ulaanbaatar then, the interior of Park View Residence was designed by an international architect making the development a high-quality stand out project. The Park View Residence is located in Ulaanbaatar’s Embassy District and consists of 31 luxury apartments and three floors of mixed-use commercial and office space.
Mon House Residence
Mon House Residence
Completion date
2005
About project
The Group completed its first residential development project, Mon House Residence, centrally located in Ulaanbaatar, with 12 floors of 48 luxury apartments, in 2005. After taking management and operational control of another party’s development project where construction had stalled due to poor planning and a lack of sufficient development financing, the Group re-designed and re-configured the development and obtained financing to complete the project through pre-sales of a number of the units. The Group then achieved rapid sales of the remaining residential units due to the development’s high quality design and finishings, security and underground parking compared to other housing options in Mongolia at the time.
