PROJECT

Projects

Summary of Investment Information

Project Number

37908

Company Name

SHANGRI-LA ULAANBAATAR HOTEL LLC

Date SPI Disclosed

Sep 8, 2016

Country

Mongolia

Region

East Asia and the Pacific

Projected Board Date

Oct 14, 2016

Environmental Category

B - Limited

Status

Completed

Last Updated Date

Mar 29, 2024

Department

Regional Industry - MAS Asia & Pac

Industry

Tourism, Retail and Property

Previous Events

Approved : Oct 28, 2016
Signed : Jan 25, 2017
Invested : Apr 26, 2018

Sector

Construction and Real Estate

Project Description

Shangri-La Ulaanbaatar Hotel LLC (the “Company”) is a joint venture between IFC’s existing clients: (i) Shangri-La Asia Limited (“Shangri-La” or the “Sponsor”); and (ii) MCS Holding LLC (“MCS”). The Company is undertaking the development of the second phase of a commercial complex on a 3-acre site in downtown Ulaanbaatar, Mongolia that comprises of a 25-story office tower, a 185-unit residential tower, and a 5-level retail podium (together, the “Project”). The first phase of the commercial complex is a 290-room hotel that was opened in 2015.

Sponsor / Cost / Location

Development Impact

E&S Category Rationale / Risks and Mitigation