The implementation of the Smart City project, aimed at reducing congestion, air pollution, and overpopulation in Ulaanbaatar, has entered a new phase. Initially launched through a partnership between Austria-based Teichmann & Compagnons Property Networks GmbH and AIG Group, a subsidiary of Ard Financial Group (AARD), the project now welcomes one of Mongolia’s leading national investors—Ajnai Corporation—as a strategic partner.

The Smart City initiative envisions the development of an environmentally friendly urban space, integrating advanced solutions such as renewable energy sources, independent infrastructure systems, and digital governance. Far beyond a real estate project, it aims to become a comprehensive urban development aligned with international standards. A working group has already been established to develop the city’s master plan, investment structure, stakeholder roles, and financing mechanisms.

Ajnai Corporation, in collaboration with Ard Financial Group, is currently preparing the land necessary for the project’s implementation and laying the foundation for long-term investment.

The implementing partners aim to develop this smart city not only to meet domestic needs but also as a regional model for innovation and sustainable urban planning. The project is expected to attract international investors and technology partners, support the country’s green development agenda, and make a meaningful contribution to economic growth.

Established in 1992, Ajnai Corporation is one of Mongolia’s most prominent group companies, with long-standing investments across key strategic sectors, including banking and finance, mining, logistics, tourism, real estate, trade, and food production. It has consistently driven innovation and growth while maintaining sustainable and responsible business practices.

Ard Financial Group is Mongolia's leading fintech company that invests in finance and technology companies as part of its mission to build the Investor Nation.

Source: Ard Financial Group