Cambodia's lack of laws causing real estate disputes

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Cambodia's lack of laws causing real estate disputes

Post by CEOCambodiaNews » Sun Nov 19, 2017 7:43 pm

Scandals and problems are mounting in land sale deals
Scandals are beginning to brew now that the real estate market is expanding with more affordable housing and cheaper land prices. The situation has been exacerbated by the lack of laws governing the sector and managing stakeholder disputes.

Bou Socheat recently clashed with Thep Chantrea and his Sahaka Dai Ku company, which specialises in dividing land that has been put up for sale.

Socheat said his sister, Pi Yun, signed a sales contract with Sahaka Dai Ku involving a plot of land in Phum Knea and Phnum Chambok Poang villages in Kandal province. The contract says the company is required to pay 50 percent of the total price of the 6.2 hectares of land within two months. According to Socheat, the company failed to pay within the two-month span and despite a one-month extension, the company still failed to come up with their half of the funds...
http://www.phnompenhpost.com/post-prope ... sale-deals
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