The deadline set by the City Propert Office for confirmation that the “Tavan Bogd Group” would buy the old printing house building just off Ulaanbaatar’s central square, expired on 18^th December. Therefore, the spokesman of the Group’s directorTs.Baatarsaikhan officially confirmed that the “Tavan Bogd Group” has decided to accept the proposal to buy the printing house for MNT 23,850 billion.

The Tavan Bogd Group plans to renovate the printing house using its original design, and re-name it as the“Galleria Ulaanbaatar”, intended to become a prime-location trading and service center. In addition, the “Galleria Ulaanbaatar” will house the UB city-museum. The “Tavan Bogd Group” has decided not to build higher than Government House, which is just across the street. Therefore, they decided to restore the old image of the printing house. The “Gobi” company store, banks, Japanese and Mongolian restaurants, a car showroom, top-brand boutiques will all be located in the “Galleria Ulaanbaatar”.

The land behind the printing house belongs to “Tavan Bogd Group”. It has been planned to build an 18-floor building on these site. The “Tavan Bogd Group” intends to build a useful structure, possibly with the cooperation of other organizations such as Khas Bank.