The income from the sale by auction of Government land is placed in the Ulaanbaatar Development Fund, to be used to develop the capital city until 2020.

Land sold in six regions contributed MNT 2.33 billion to the fund in 2008. Another two or three large plots of land will be sold this year, with auction notices published at least 30 days previously.

 

Source: en.news.mn

Jan 7, 2009