Sunday, 9 March 2008

Cambodia's rising property prices sidelines poor
09 March 2008

An old hospital was razed to make way for Phnom Penh's tallest building - a 42-story twin condominium tower.
A garbage-strewn slum became prime real estate after police evicted its dwellers to a parched rice field outside the capital.
Property prices in Cambodia are on the rise, but opposition party lawmaker Son Chhay and some human rights workers, including Pilorge of the human rights group Licadho, believe that the boom is partly fueled by people laundering money from illegal logging, drug trafficking and tax evasion by plowing the cash into the real estate market.
See this weekend's Bangkok Post for a very intersting story on some of the issues arising from this booming market. The picture shows a billboard for Camko City.

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