Ulaanbaatar
Construction and Capital Repairs Increased by 14.8 Percent
Economy
Ulaanbaatar, March 6, 2025 /MONTSAME/. In 2024, the total value of construction and capital repairs in Mongolia reached MNT 9.2 trillion, with domestic construction enterprises making up MNT 8.2 trillion (88.8%) while foreign enterprises accounted for MNT 1 trillion (11.2%) worth of capital repairs and construction.
The MNT 1.2 trillion (14.8%) increase in construction and capital repairs compared to the previous year was mainly driven by the growth in domestic and foreign construction activities. Specifically, construction and capital repairs completed by domestic construction enterprises increased by MNT 733.3 billion (9.9%), while foreign enterprises’ contributions rose by MNT 447.2 billion (77.7%).
Among domestic construction enterprises, private enterprises completed MNT 8 trillion worth of construction and capital repairs, marking a MNT 776.2 billion (10.8%) increase from the previous year. Construction and capital repairs completed by state-owned enterprises totaled MNT 99 billion, rising by MNT 33.3 billion (25.2%). However, projects undertaken by joint ventures with foreign enterprises fell to MNT 50.7 billion, a MNT 9.6 billion (15.9%) decrease from the previous year.
In Ulaanbaatar, domestic construction enterprises carried out MNT 3.8 trillion worth of construction and capital repairs in 2024, accounting for 47.2 percent of the total construction. However, this figure represents a 1.1 percent decrease compared to the previous year, according to the National Statistics Office of Mongolia.
In the previous year, MNT 8.5 trillion worth of construction and capital repairs were completed and put into operation, marking a MNT 4.1 trillion (91.3%) increase from 2023. This growth was primarily driven by engineering projects, which increased by MNT 2.7 trillion, or 4.1 times. Residential buildings accounted for MNT 896.6 billion, an increase of 43.1 percent, while non-residential buildings totaled MNT 477.2 billion, a 37.9 percent increase. Capital repairs rose by MNT 7.4 billion, a 3.1 percent increase.
