Cambodia News, (Phnom Penh): Some home buyers and investors in Leng Navartra's "Borey Project 6A" housing plan in Phnom Penh were worried about their investment after reading some (false) comments on social media. Fortunately the doubts have now been dispelled by the explanations of Oknha (or Duke) Leng Navatra, and the customers are now happy and confident in the future of his project.
On the morning of 29 May, 2023, in a friendly three-hour meeting with more than 100 customers, Duke Leng Navatra, General Director of Borey Leng Nava Tra welcomed and thanked all the customers who have invested and trusted in the Borey Leng Navatra's 6A house construction project.

There have been some complaints by customers that the borey tycoon was slow in completing pre-sold housing, and there were some (false) rumors on social media that this was because of financial difficulties.


So, yesterday, in front of more than 100 customers, Duke Leng Navatra assured everyone that his company, and especially the Duke himself, did not cheat or run away from the project or abandon its responsibilities.
He did acknowledge that, although so far thousands of flats have been completed in some blocks, in other blocks the construction is behind schedule, but this is because there are so many customers.

All customers were very happy and relieved when they heard the Duke's clear explanation of the reasons for the delays, instead of paying attention to false information on social media. Leng Navatra urged all his customers not to believe the propaganda or incitement of some unscrupulous people on social media that may lead to the company losing the confidence of the public, because when the company collapses, the house construction project will collapse as well, and then everybody loses.

Instead, the company Borey Leng Nava Tra will continue to build homes for its customers, as well as compensate for any customer losses, with the request for understanding from the customers, so that the company can have time to complete the project and restore the situation. Oknha Leng Navatra did agree to help speed up the construction and adjust some contract conditions.
This will result in a win-win solution.


https://www.compass.com.kh/development- ... 1665-1664/

The Duke said that he welcomes all his customers as part of the great family of the Borey Leng Navatra company to meet and discuss directly with him if there are any unusual problems. After this important meeting, Duke Leng Navatra and his customers had lunch together in a friendly atmosphere with trust and confidence. Bon appetit !

CEOCambodiaNews wrote: ↑Tue May 30, 2023 9:05 pmthat may lead to the company losing the confidence of the public, because when the company collapses, the house construction project will collapse as well, and then everybody loses.

I'm confused. If he already has the money to complete the project then why would anyone lose as a result of lack of faith in the company? Surely the company can just build the units, restore faith, and then everything is fine again? Public confidence is only a problem if he still needs further funding to finish it, no?

*disclaimer* I know nothing about the company or the story, nor do I care much. I'm merely asking questions, not making any assertions.

I have heard of many of these projects going under and people losing all their investment. I have seen some and I have thought they would be a good idea, but not being from the area and knowing how to research the reputation of the developer, I have kept my money.

Those are about the cheapest units there are. There are some reputable enough boreys like Penn Huoth etc but what I find amazing is how you can drive into the countryside, 40+ km out of town and down a mud road for a few km, then there are these vast developments, with hundreds of units completed and thousands more to go, more often than not semi-abandoned with tumbleweed atmospheres. Many boreys offered "fantastic" deals with barely any deposit, but once the reality of the extortionate interest set in thousands of the "buyers" just upped and left.

Or so I've heard. This is just someone else's opinion.