An Analysis of “Eco Tower One” in Ulaanbaatar

Walking through central Ulaanbaatar, one building under construction stands out above everything around it.

Curious about it, I decided to look into the project. The building is called Eco Tower One.

Once completed, it is expected to become not only a new landmark of Ulaanbaatar, but also one of the most recognizable buildings in Mongolia.

Approximately 243–246 meters tall, 55 stories

Eco Tower One is a supertall mixed-use development currently under construction on Seoul Street in central Ulaanbaatar.

According to high-rise building databases, the tower will be 243 meters tall with 55 floors, with completion planned for 2028. Aedas, the architectural firm behind the project, lists its height as 246.2 meters.

Many of Ulaanbaatar’s current landmark high-rises are around 120 meters tall, meaning Eco Tower One will be roughly twice as high.

It will dramatically transform the city’s skyline.

Hotel, residences, offices and retail in one tower

Eco Tower One is much more than a high-rise office building.

The development is planned to include:

Luxury residences, serviced apartments, a five-star hotel, Grade A offices, and premium retail and commercial facilities.

In other words, the tower will bring together the functions of living, working, staying and shopping within a single skyscraper.

It could almost be described as a vertical city.

Conrad Ulaanbaatar on floors 25–39

One of the most notable parts of the project will occupy floors 25 through 39.

Hilton’s luxury brand, Conrad Hotels & Resorts, will make its first entry into Mongolia with Conrad Ulaanbaatar.

The hotel is planned to have 227 rooms and suites, while the 37th floor will feature a sky lobby overlooking Ulaanbaatar and the surrounding mountains.

Plans also include an indoor swimming pool, spa, restaurants and approximately 1,800 square meters of meeting and event space.

What interests me most is what will be above the 40th floor

While researching Eco Tower One, the part that caught my attention most was the space above Conrad, from the 40th floor upward.

Aedas’ official project information confirms that Luxury Apartments are planned for the uppermost levels of the building, while serviced apartments are also included in the overall development.

This suggests that the floors above 40 are likely to be primarily residential.

However, the detailed floor allocation has not yet been officially announced.

For example, we still do not know:

Which floors will contain serviced apartments, and from which floor the luxury residences will begin.

Official sales prices and detailed floor plans also do not appear to have been publicly released yet.

If residences above the 40th floor go on sale, things could get interesting

From here, this is my own perspective.

If residences above the 40th floor are eventually offered for private sale, I think this could become a very interesting property.

Central Ulaanbaatar. Mongolia’s tallest building. Living above the Conrad.

Those three factors alone would make these residences fundamentally different from an ordinary luxury apartment development.

What interests me most, however, is not necessarily a spectacular penthouse on the very top floor.

I would be particularly interested to see whether smaller residential units become available around the 40th to 45th floors.

If buyers could gain the scarcity value of owning a residence in Eco Tower One, together with spectacular high-rise views, without paying the extreme premium associated with the very highest floors, these units could also become interesting from an investment perspective.

Of course, being luxurious does not automatically mean that a property will appreciate in value.

Before considering an investment, it would be important to examine the sales price, price per square meter, management fees, rental demand and future resale market.

A building that symbolizes Ulaanbaatar’s transformation

Walking around Ulaanbaatar today, one thing that stands out is the extraordinary pace of construction.

Apartment buildings, commercial developments and offices are going up throughout the city. In some areas, the cityscape can change noticeably in just six months.

I believe Eco Tower One is one of the buildings that best symbolizes the momentum of Ulaanbaatar today.

Once completed, it will significantly reshape the city’s skyline.

Personally, however, I am even more interested in one question than the height of the building itself:

“How much will the residences above the 40th floor sell for?”

Eco Tower One is more than simply a project to build “the tallest building in Mongolia.”

It is also a fascinating project to watch as an indicator of how far Ulaanbaatar’s luxury real estate market can develop in the years ahead.