MCS Property

completed

The MCS Group of companies (“MCS Group” or the “Sponsor”), IFC’s repeat client and one of Mongolia’s leading business groups active in (i) distributing fast-moving consumer goods; (ii) beverage manufacturing; (ii) mobile communications and information technologies; (iii) civil engineering and infrastructure development, (iv) mining, as well as in a number of other industry sectors, is expanding the scale of its property development operations, which are currently focused on a large-scale affordable housing development in Ulaanbaatar (“UB”). MCS Group’s property-focused subsidiary MCS Properties Holdings LLC (“MCS Property”, “MCSP” or the “Company”) has requested a long-term IFC loan of up to US$60 million, which will be used (i) to complete the Company’s affordable housing development “Shine Ger” in UB; (ii) to build an affordable housing residential complex (“Tsetsii”) in the vicinity of the Ukhaa Khudag (“UHG”) mine site, 500 kilometers to the south of UB, as well as (iii) to develop an office tower (“MCS Tower”), which will be an important contribution to the Mongolian capital business infrastructure, and a school building (“Orchlon”) in UB (the “Project”).