Tuesday, December 8, 2009

Foreigners will have ownership on properties in Cambodia

Cambodian ministers have recently approved a draft law allowing foreign ownership of buildings such as apartments and office buildings.

The draft law was aimed at attracting investors, facilitating the growth of real estate market, and pushing the development. Foreigners will be permitted to own only buildings and apartments, not the land beneath them.

The draft law is expected to be approved by Cambodia's parliament and senate, and then will be promulgated by King Norodom Sihamoni.

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Real Estate Development in Cambodia

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