The European Bank for Reconstruction and Development (EBRD) has agreed to provide a local currency loan worth up to €25 million to Tavan Bogd Holdings. The funding will support the construction of a new green residential and commercial development in Ulaanbaatar, the capital of Mongolia. The project is expected to introduce more sustainable construction practices to the domestic real estate market.

The financial package is designated for the initial phase of the Gerlug Green Complex. Once completed, this section of the development will deliver 252 apartments to accommodate roughly 1,000 residents. The scheme also includes dedicated retail and commercial facilities designed to house about 30 businesses. Spanning a total gross floor area of approximately 76,300 square metres, the complex aims to support municipal efforts to enhance housing quality and manage high urban density in the capital.

The Gerlug Green Complex intends to become one of the first real estate projects in Mongolia to secure international green certification. The developers are targeting an EDGE (Excellence in Design for Greater Efficiencies) rating by planning to exceed existing local statutory requirements for water and energy efficiency.

Beyond the environmental targets, the initiative is designed to address skills development across the domestic construction sector. The project plans to introduce specialised training courses for local workers, focusing on sustainable building techniques, digital construction methods and advanced engineering processes.

To date, the EBRD has directed more than US$ 3 billion (€2.6 billion) into the Mongolian economy across 166 individual projects. Private sector companies have received approximately 90 per cent of this total investment volume.