The building boom in Ulan Bator

I came across this article about the building boom and constraints in Mongolia. I have some serious reservations about the truthfulness of some of the article. For example, the article claims that the top five builders only complete about 60 apartments per year. Just in the last twelve months more than that number of units has been added within a long stone's throw of my apartment building. I do not know who the top five builders are but I would say there are hundreds of units every year that are completed. The government talks about adding 40,000 units of housing - they will not get there building 60 units per year.

Still, the price of housing is skyrocketing in Ulan Bator. Poor Mongolians will continue to live in their gers. But foreigners who come to Ulan Bator are paying higher and higher rents. We are very grateful to God that He provided a way for us to purchase our apartment some years ago. It is one way that we are protected for ever higher housing costs.