The “State Apartment Corporation” and Turkey’s “EYG Group” concluded a contract in Istanbul last month, under which modern new apartments are to be built in Ulaanbaatar. According to Phase One of the contract, the companies plan to build 1500 apartments in 4th khoroo – Yarmag. The new micro region will be built using the latest technology and in full accordance with European Standards. Also, these buildings will be cheaper than the current market price, which tends to target specific groups.