26 June 2025, Ulaanbaatar
With no proper playgrounds in their neighborhood, 11-year-old Dulguun and his 6-year-old sister Marla were overjoyed when their parents took them to visit the newly opened Go to Market shopping and entertainment complex—just two blocks from their home. Reflecting on his visit, Dulguun’s eyes light up: “Wow, it was even better than the Central Department Store! Way better—with escalators, huge stores filled with all kinds of food and toys, and super nice restaurants.” He beams with excitement as he continues:
“We came here again on Children’s Day this year. There was candy floss, music, dancing, and even a playground with trampolines. I just love this place! Now I come with my friends all the time.”
Dulguun’s mother, T. Navchaa, says the complex has quickly become a beloved destination not just for her family—including the children’s grandmother—but for the entire neighborhood.
“When I saw this big construction project coming up, I thought it looked like a very posh and cozy place. Once it was finished, I suggested we all go check it out,” she recalls.
“Now I even meet my friends here more often—it gives us a reason and a place to gather.” When time allows, T. Navchaa and her husband bring the children to the Go to Market playground, where they always leave smiling. She also prefers shopping there for groceries and children’s clothes, noting that the quality far surpasses that of the small stores in her home district of northern Chingeltei.
Navchaa and her family are just a few of the 6,000 to 7,000 daily visitors to the Go to Market complex. According to Dashtseren Tserenlkham, CEO of Master Tunshlel LLC, the company behind the project, they expect foot traffic to soon surpass 10,000 visitors per day. As Ts.Dashtseren explains, the 25,000-square-meter complex—the first and largest multifunctional center in the northern part of Ulaanbaatar—is designed to serve more than 500,000 residents living within a 1.6 km radius of the city center. “The core concept of Go to Market is to provide residents of northern and central Ulaanbaatar with access to a world-class retail and service hub,” says Ts. Dashtseren. “Beyond shopping, it’s designed as a lifestyle destination—a community space where families can gather, relax, and enjoy themselves.”
The development was partially financed through an EBRD GEFF Green Technology Loan, enabling the company to incorporate sustainable features and energy-efficient technologies throughout the complex. “We met the main criteria for receiving the loan—most importantly, ensuring a 20% reduction in energy and heat consumption,” says Ts. Dashtseren.
According to Azbayar Erdenebayar, CFO of Master Tunshlel LLC, the project used insulation, windows, and façade materials selected from the GEFF Green Technology Selector, maximizing energy savings and sustainability. “By using this financing from Khan Bank and GEFF, we’re able to reduce carbon emissions by 567 tons annually and save over 1,380 kWh of electricity per hour—equivalent to a 24% annual reduction,” says E.Azbayar.
It’s a very green project, and we’re proud to have supported its development,” says Stanislav Dubko, GEFF Mongolia Project Manager. “It can serve as a model for future construction projects across Mongolia.”
The complex’s sustainability features go beyond energy efficiency. All water outlets are equipped with sensor-activated faucets to conserve water. The car wash uses a greywater recycling system combined with rainwater harvested from the roof. A waste sorting and processing unit on the first floor separates and compresses recyclables like paper, glass, and plastic for reuse. GEFF engineers provided expert advice throughout the project. “It was a joy to work with such an environmentally conscious company—always eager to adopt the best green technologies,” says Biligt Enkhbat, one of the three local and two international GEFF Mongolia project engineers.
Although the initial investment in green technology was higher, the long-term financial returns have proven worthwhile. “People often assume that green means expensive,” explains Ts. Dashtseren. “But when you run the numbers, energy-efficient equipment may cost 10–20% more upfront, yet you save around 24% on energy every month for the next 20 years. You’ll pay for heating every year anyway, but with energy-efficient systems, that cost could be cut in half.” With access to low-interest loans of 13.5 percent, even equipment that’s 20–30% more expensive becomes a smart investment. “When you factor in the reduced financing costs and long-term savings, the return on investment is far greater than the initial expense,” Ts.Dashtseren adds. “So green loans aren’t just about spending more—they’re about gaining more.”
Seated in his spacious office at Go to Market, overlooking the city of Ulaanbaatar, Ts. Dashtseren looks content. And he has reason to be—soon, the rooftop green space will open, featuring sports zones, entertainment areas, and fine dining options.
As for Dulguun, one of the complex’s most enthusiastic young visitors, he’s already making summer plans: “I’m coming here as much as I can during the school break!”
Success story: https://ebrdgeff.com/mongolia/mn/projects/sustainable-urban-development-in-ulaanbaatar/
Supported by:
