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Construction workers work on a new apartment complex in Phnom Penh, Cambodia. (Photo: ASSOCIATED PRESS)The passage of a new law for the ownership of property by foreigners could give a boost the stagnant real estate market as well as bring in more investment, industry experts say.
Chun Sakada, VOA Khmer
Phnom Penh
Tuesday, 13 April 2010
The passage of a new law for the ownership of property by foreigners could give a boost the stagnant real estate market as well as bring in more investment, industry experts say.
The much-anticipated Foreign Ownership Property law was passed by the National Assembly last week and must now move through the Senate before being signed by the king.
“This foreign property law will benefit both foreign investors and Cambodians and will increase confidence in the legal framework for foreign property ownership in Cambodia,” Daniel Parkes, Cambodia country manager for CBRE Richard Ellis, told VOA Khmer.
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