The Phnom Penh Post
Written by Soeun Say
Tuesday, 03 February 2009
Some 100 property developers are to meet with the government today to discuss contested new rules that aim to tighten licensing requirements and establish reserve requirements for new construction projects. The prakas, or edict, would force developers to set aside capital in case they go bankrupt, while setting tighter licensing requirements. Government officials say the prakas is aimed at protecting buyers, but some developers oppose the rule, saying it will hurt the real estate market. The meeting starts at 2:30pm at the Hotel Cambodiana.
Written by Soeun Say
Tuesday, 03 February 2009
Some 100 property developers are to meet with the government today to discuss contested new rules that aim to tighten licensing requirements and establish reserve requirements for new construction projects. The prakas, or edict, would force developers to set aside capital in case they go bankrupt, while setting tighter licensing requirements. Government officials say the prakas is aimed at protecting buyers, but some developers oppose the rule, saying it will hurt the real estate market. The meeting starts at 2:30pm at the Hotel Cambodiana.
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