The owner of Narantuul market, the largest market in Ulaanbaatar, Sh.Saikhansambuu, has planned to build residential apartments for 6000 households on the site of Narantuul market.

Swiss engineers have made a project design proposal for the residential apartments. The construction of the new apartments is expected to begin in the autumn of 2014. The project has been estimated at 80 million US dollars to build a new market on 6 hectares of land, on an extended section of Narantuul market.  The16-24 storey residential apartment will be built on the site of the current grocery section of Narantuul market.

The grocery section of Narantuul market caught fire two months ago causing property damage to over 300 renters of the market. Both renters and owners of the market experiences a large amount of stock damage and financial loss during the fire. The renters of the grocery section of the market are still waiting to be compensated and to re-establish their business. But the owner of the market Sh.Saikhansambuu said that the renters will be in some manner or partially compensated only if they can fairly describe their property damage and loss and their claim is supported with evidence.