Property Developers Seek Ministry Licenses

September 1st, 2011 , The Cambodia Daily

Several property developers ave approached the Ministry of Finance to ask for licenses after the ministry warned buyers last month not to purchase housing fro developers who are not licensed to sell their properties. The ministry’s warning, issued Aug 11, identified three local developers that they said did not have proper licenses – Borei Vimean Phnom Penh Construction, Borei Tuol Sangke nd Hong Lay Shophouses Construction. According to the warning, “every house selling-and-buying contract made with the aforementioned companies is legal invaled” without a proper license.

(Hul Reaksmey, pg. 29)