ULAANBAATAR: Six years after construction began, Shangri- La Hotels and Resorts opened its first property in Mongolia yesterday to target business travellers seeking opportunities in the nation’s nascent mining economy.
The 290-room hotel and adjoining retail and office complex in downtown Ulaanbaatar represent a US$500mil investment, according to MCS Group, Mongolia’s largest conglomerate with real estate and construction businesses, and a joint owner of the development.
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