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Mongolia's property boom set to cool

Mongolia's vast mineral wealth is fueling rapid development in Ulan Bator -- but is the property bubble about to burst?   © Photo by Jacopo Dettoni

ULAN BATOR -- Dozens of dusty residential and retail construction sites greet travelers along the road connecting Chinggis Khaan International Airport with downtown Ulan Bator. As the surrounding steppe gives way to the city, new condo towers poke out among Soviet-era-style apartment blocks. 

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