Invescore Property LLC, 2024

• Ulaanbaatar city market: As envisioned by domestic ​project developers

"Invescore Property" LLC conducted an "Industry Sentiment" survey among domestic ​project development companies in February 2024. In doing so, we aimed to clarify how ​confident and positive expectations real estate professional companies are in the ​future business environment of their industry and also worked to identify some ​common problems.

New developments

In 2023, 767 new construction permits were issued, the highest number not seen in the ​last five years. We translated that figure as industry players seem very confident in the ​future of their business.

However, according to the results of the industry sentiment survey, 50% of all ​project developers said "We will only continue the existing project but not start any ​new project", indicating an opposite.

Will your organization develop and implement new projects in 2024?

A vision of business operations

The forecast among project developers is that the prices of construction goods and materials will remain the same or increase slightly in 2024. Also, 16% of all participants expect the material costs to fall slightly. However, the companies do not have positive expectations that the net profit margin in 2024 will increase significantly compared to 2023.

How will your company’s net profit margin will change in 2024 compared to 2023?