Shangri-La UB 2

completed

Shangri-La Asia Limited (“Shangri-La”, “SL”, the “company”, or the “sponsor”) is a leading global owner and operator of high-end hotels and resorts (http://www.shangri-la.com/corporate/about-us/). Starting in 2011, the company developed Phase 1 (a five star hotel) of its mixed development project in Ulaanbaatar, Mongolia, for which IFC provided loan financing, with the hotel Shangri La Ulaanbaatar (“SLUB”) starting its operation in June 2015. The ESRS for this previous investment has been disclosed in May 2011 and is available at: ifcext.ifc.org/ifcext/spiwebsite1.nsf/78e3b305216fcdba85257a8b0075079d/c251c8e4f12b414085257888006e7213?opendocument. Following from Phase 1, the sponsor is developing Phase 2 of the project i.e. an international-standard Grade-A mixed-use development comprising of a 25-story office tower, a residential tower with 185 serviced apartment units, a 5-level retail shopping podium including a restaurant section and cinemas, and a sheltered parking lot, together totaling a gross floor area of about 108,000 square meters, located in downtown Ulaanbaatar (goo.gl/maps/TUTYDYZEqKJ2), in the same premises as Phase 1.Phase 2 is nearing completion of construction. The proposed IFC financing (“SLUB Phase 2” or “the project”) will consist of an A loan of up to US$75 million at the corporate level to finance overall development of Phase 2.