In the First Quarter of 2024, Construction, Capital Repairs, and Maintenance Increased by 30.6%

Ulaanbaatar, May 20, 2024 /MONTSAME/. According to preliminary results of the first quarter of 2024, construction, capital repairs, and maintenance reached MNT 1.2 trillion, of which MNT 1.2 trillion (97.1%) were completed by the domestic construction enterprises and MNT 33.9 billion (2.9%) were completed by foreign enterprises.

In the preliminary result of the first quarter of  2024, construction, capital repairs, and maintenance increased by MNT 278.2 billion (30.6%) compared to the same period the previous year. It was mainly due to an MNT 255.2 billion (28.4%) increase in construction, capital repairs, and maintenance completed by domestic enterprises. In the total construction,  capital repairs and maintenance completed by domestic enterprises, construction, capital repairs and maintenance completed by private enterprises reached MNT 1140.6billion, increased by  MNT 251.7 billion (28.3%), construction, capital repairs and maintenance completed by state-owned enterprises reached MNT 8.2 billion, increased by MNT 3.7 billion (81.3%), but capital repairs and maintenance of joint venture reached MNT 4.5 billion, decreased by MNT 0.2 billion (4.5%) compared to the same period of the previous year. 

The share of residential buildings in the total construction, capital repairs, and maintenance was 44.4%, the share of non-residential buildings was 39.6%, the share of engineering construction was  14.8%, and the share of capital repairs and maintenance was  1.2%. Compared with the same period of the previous year, the share of engineering construction in the total construction increased by 10.3 percentage points, the share of non-residential buildings increased by 1.0 percentage points but the share of residential buildings decreased by 11.0 percentage points, the share of capital repairs and maintenance decreased by 0.4 percentage points.

In the first quarter of 2024, the share and value of non-residential buildings in the total construction capital repairs and maintenance reached MNT 470.3 billion, increased by MNT 119.7 billion (34.1%) compared to the same period of the previous year. It was mainly due to trade and service buildings increased by MNT 34.3 billion (2.1 times more), other non-residential buildings increased by MNT 38.0 billion  (71.8%), cultural construction increased by  MNT  35.6 billion  (66.2%), hospital buildings increased by MNT 4.2 billion (47.0%), industrial construction increased by MNT 7.6 billion (3.7%).

The preliminary result of the first quarter of 2024 shows that repairs and maintenance worth MNT 683.4 billion or 59.3 percent of the total construction, capital repairs, and maintenance were completed by domestic enterprises in Ulaanbaatar, decreased by 1.7 percentage points compared to the same period of the previous year. 

Construction and capital repairs: Economic activities directed to the creation, renovation, repair, or extension of fixed assets in the form of buildings, land improvements of an engineering nature, and other constructions such as roads, bridges, dams, etc.

Residential building: Construction of at least half is used for residential purposes. 

Non-residential buildings: Minor parts of the building(less than half of the area) are used for dwelling purposes.

General engineering construction: All construction works not classified under building construction, including construction of railways, roads, bridges, highways, airports, sewages, dams, irrigation, etc.