Showing posts with label Foreign ownership of property. Show all posts
Showing posts with label Foreign ownership of property. Show all posts

Wednesday, April 14, 2010

Market Hopes Property Law Will Boost Growth

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

“It’s an opportunity for foreign investors to buy their own houses in Cambodia, for investment and for residence.”
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.

Parkes called the law “a revolution in property investment” and one more step for Cambodia toward becoming a destination for international investors and property developers. “It goes a long way toward improving confidence and improving investment in Cambodia,” he said.

The law, which was drafted in December in a bid to improve ownership rights, allows foreigners to own residential property such as apartments, so long as they are above the ground floor.

Parkes said investors should consider coming in now, to take advantage of an expected upswing in the economy in 2011.

“The next six months is a good time to buy,” he said. “Comparatively, it’s more appealing than Thailand and Vietnam for foreign investors.”

Cambodian law does not allow foreigners to own land. Previously, if a foreign wanted to own any property, he would have to seek out a Cambodian partner, which deterred investment.

“My wife is Cambodian; she owns her own home here,” said Paul Luchtenburg, chief executive officer for Angkor Mikroheranhvatho Kampuchea, a microfinance institution. “But I know a lot of friends who want to find an easier, legal way to buy an apartment in Cambodia.”

With more foreigners able to buy apartments, the demand will increase, which could bring higher prices to property investors, he said.

“It should bring more money into the country,” he said. “So I think that is a very good thing.”

Jeremy Ha, director of Phnom Penh Commercial Bank, said South Korean developers and construction companies were optimistic about the new law.

“So I guess the number of companies [who want to] build apartments or condominiums will steadily increase in the future,” he said. “I am also optimistic as a foreigner, because I can buy an apartment or a villa in my own name.”

Sung Bonna, president of the National Valuers Association, told VOA Khmer in an interview the law will boost the economy.

Overall economic growth in Cambodia ground to a halt in Cambodia during the global economic downturn. The real estate market, which had been experiencing a boom, suffered heavily.

“It’s an opportunity for foreign investors to buy their own houses in Cambodia, for investment and for residence,” he said.

The sub-decrees that implement the law should be easily because the law is clear, he added.

Im Chhun Lim, Minister of Land Management, said the implementation of the law “will be fair and proper for all sides.”
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អ្នក​ជំនួញ​បរទេស​៖ច្បាប់​ផ្តល់​កម្ម​សិទ្ធិ​ដល់​ជន​​បរ​ទេស​​ផ្តល់​​ផល​ប្រយោជន៍​​​ដល់​​អ្នក​​វិនិ​យោគ​​បរទេស

ដោយ លោក ជន សក្តា វីអូអេ ខ្មែរ
ភ្នំពេញ ថ្ងៃអង្គារ, 13 ខែមេសា 2010

«ខ្ញុំ​គិត​ថា​ ផល​ប្រយោជន៍​នេះ​នឹង​បង្កើន​តម្រូវ​ការ​សម្រាប់​អចលន​ទ្រព្យ។ ​ដូច្នេះ​ លោក​អ្នក​មាន​មនុស្ស​ជា​ច្រើន​អាច​រក​ទិញ​ផ្ទះ។​ ដូច្នេះ​រឿង​នោះ​នឹង​ជួយ​ឱ្យ​ចាប់​ផ្តើម​ឡើង​វិញ​នូវ​ជំនួញ​អចលន​ទ្រព្យ»។
ក្រុម​អ្នក​ជំនួញ​បរទេស​បាន​ហៅ​ច្បាប់​ផ្តល់​កម្ម​សិទ្ធិ​ដល់​ជន​បរ​ទេស​នេះ​ថា ​ជា​ការ​ផ្តល់​ផល​ប្រយោជន៍​ដល់​អ្នក​វិនិ​យោគ​បរ​ទេស​ផង ​និង​ដល់​ប្រទេស​កម្ពុជា​ផង​ ក្នុង​ការ​ទាក់​ទាញ និង​ការ​បង្កើន​ជំនឿ​ទុក​ចិត្ត​ដល់​អ្នក​វិនិយោគ​បរទេស។
ក្រុម​ពាណិជ្ជ​ករ​បរ​ទេស​បាន​និយាយ​នៅថ្ងៃ​អង្គារ​នេះ​ថា ច្បាប់​ផ្តល់​កម្ម​សិទ្ធិ​ដល់​ជន​បរ​ទេស​ថ្មី​បាន​បើក​ផ្លូវ​សម្រាប់​អ្នក​វិនិ​យោគ​ទុន​បរ​ទេស​ ដើម្បី​ធ្វើ​ឱ្យ​ទី​ផ្សារ​អចលន​ទ្រព្យ​ងើប​ឡើង​វិញ​ ក្នុង​ការ​ជំរុញ​ការ​សាង​សង់​សំណង់​ និង​ការ​វិនិយោគ​លើ​អគារ​ស្នាក់​នៅ ​ឬ ​អគារ​ខុនដូ​នៅ​ក្នុង​ប្រទេស​កម្ពុជា។
ច្បាប់​ផ្តល់​កម្ម​សិទ្ធិ​អចលន​ទ្រព្យ​ដែល​ទន្ទឹង​រង់​ចាំ​ជា​យូរ​មក​ហើយ​ ត្រូវ​បាន​អនុម័ត​ដោយ​សំឡេង​ភាគ​ច្រើន​នៅ​ក្នុង​សម័យ​ប្រជុំ​រដ្ឋ​សភា​កាល​ពី​សប្តាហ៍​មុន​ និង​កែ​ប្រែ​ធ្វើ​ឱ្យ​ចម្រើន​ដល់​ទី​ផ្សារ​អចលន​ទ្រព្យ។​ ឥឡូវ​ ច្បាប់​នេះ​ត្រូវ​ការ​អនុម័ត​ដោយ​ព្រឹទ្ធ​សភា​ និង​បន្ទាប់​មក​ព្រះ​មហាក្សត្រ​ស្តេច​នឹង​ឡាយ​ព្រហស្ត​លេខា​ជា​ចុង​ក្រោយ​ មុន​នឹង​ក្លាយ​ទៅ​ជា​ច្បាប់​ពេញ​លក្ខណៈ។
គណៈ​រដ្ឋ​មន្ត្រី​បាន​អនុម័ត​ច្បាប់​នេះ​នៅ​ក្នុង​ខែ​ធ្នូ ក្នុង​កិច្ច​ខិត​ខំប្រឹង​ប្រែង​ធ្វើ​ឱ្យ​ប្រសើរ​ដល់​សិទ្ធិ​កម្ម​សិទ្ធិ​ឯក​ជន​ បង្កើន​ការ​វិនិយោគ​ទុន​ និង​បង្ក​លក្ខណៈ​ងាយ​ស្រួល​ដល់​ការ​ធ្វើ​វិនិយោគ​ទុន​នៅ​កម្ពុជា។​ ច្បាប់​នេះ​អនុញ្ញាតឱ្យ​ជន​បរទេស​មាន​កម្ម​សិទ្ធិ​លើ​អគារ​ស្នាក់​នៅ​ចាប់​ពី​ជាន់​ទី​១​ និង​ចំនួន​ទឹក​ប្រាក់​ដ៏​ច្រើន​នៅ​ក្នុង​ទ្រព្យ​សម្បត្តិ​លំ​នៅ​ដ្ឋាន​ឯក​ជន​សម្រាប់​ជន​បរទេស។
លោក​ Daniel​ Parkes ​អ្នក​គ្រប់​គ្រង​នៃ​ភ្នាក់​ងារ​អចលន​ទ្រព្យ​ពិភព​លោក​ប្រចាំ​នៅ​កម្ពុជា​ បាន​ថ្លែង​ប្រាប់ ​VOA​កាល​ពី​ថ្ងៃ​ព្រហស្បតិ៍​​ថា​ច្បាប់​ផ្តល់​កម្ម​សិទ្ធិ​ដល់​ជន​បរ​ទេស​នេះ​នឹង​ផ្តល់​ផល​ប្រយោជន៍​ដល់​អ្នក​វិនិយោគ​បរ​ទេស​ផង​ និង​ដល់​ប្រទេស​កម្ពុជា​ផង​និង​បង្កើន​ជំនឿ​ទុក​ចិត្ត​ក្នុង​ក្រម​ខ័ណ្ឌ​ច្បាប់​សម្រាប់​កម្ម​សិទ្ធិ​លើ​អចលន​ទ្រព្យ​របស់​ជន​បរ​ទេស​នៅ​ក្នុង​ប្រទេស​កម្ពុជា។
លោក​ Daniel Parkes​ បាន​បញ្ជាក់​ថា វា​ជា​បដិវត្តន៍​នៅ​ក្នុង​ការ​វិនិយោគ​អចលន​ទ្រព្យ​នៅ​កម្ពុជា​ដែល​កើត​ចេញ​ពី​លទ្ធ​ផល​នៃ​ច្បាប់​នេះ។​ លោក​គិត​ថា ​វា​ជា​ជំហាន​នៅ​លើ​ដង​ផ្លូវ​ឆ្ពោះ​មក​​កាន់​ប្រទេស​កម្ពុជា​កាន់​តែ​ច្រើន​ឡើង​ដោយ​ចាត់​ទុក​ថា ​ជាកន្លែង​មួយ​សម្រាប់​ការ​វិនិយោគ​ពី​អ្នក​វិនិយោគ​អន្តរ​ជាតិ ​និង​អភិវឌ្ឍ​អចលន​ទ្រព្យ។
«វា​នឹង​បង្កើន​ផល​ប្រយោជន៍​នៅ​កម្ពុជា។​ វា​ជា​ការ​សមរម្យ​នូវ​អ្វី​ដែល​ភាព​សំខាន់​នៃ​ច្បាប់​នេះ​ គឺ​ថា​ អគារ​ខុនដូ​នឹង​មាន​ផល​ចំណេញ​ និង ​ថា​តើ​ក្រុម​ហ៊ុន​គ្រប់​គ្រង​មាន​សារៈ​សំខាន់​សម្រាប់​ប្រជា​ពល​រដ្ឋ​ ដើម្បី​ពិចារណា​ នៅ​ពេល​ដែល​ពួក​គេ​កំពុង​វិនិយោគ​នៅ​ក្នុង​ប្រទេស​នេះ។​ វា​ដំណើរ​ការ​តាម​វិធី​មួយ​ចំនួន​ដើម្បី​ធ្វើ​ឱ្យ​ជំនឿ​ជឿ​ទុក​ចិត្ត​កាន់​តែ​ប្រសើរ​ឡើង​ និង​ធ្វើ​ឱ្យ​ការ​វិនិ​យោគ​កាន់​តែ​ប្រសើរ​ឡើង​នៅ​ក្នុង​ប្រទេស​កម្ពុជា។​ ប៉ុន្តែ​វា​មិន​មែន​ជា​ជម្លោះ​ទេ។​ ដូច្នេះ​វា​គឺ​ជា​ទី​កន្លែង​ដ៏​ល្អ​ដើម្បី​វិនិយោគ​ប្រាក់​របស់​ខ្ញុំ»។
លោក​ Paul​ Luchtenburg ​ប្រធាន​ប្រតិ​បត្តិ​នៃ​គ្រឹះ​ស្ថាន​ហិរញ្ញ​វត្ថុ​របស់​ក្រុម​ហ៊ុន​ AMK​ co.​,LTD​ បាន​ថ្លែង​​កាល​ពី​ថ្ងៃ​ព្រហស្បតិ៍​ថា​ ភរិយា​របស់​លោក​ជា​ជន​ជាតិ​ខ្មែរ​ដែល​មាន​ផ្ទះ​រួច​ជា​ស្រេច។​ ប៉ុន្តែ​លោក​ដឹង​ថា​ មិត្ត​ភក្ត្រ​ជា​ច្រើន​ដែល​ចង់​ស្វែង​រក​ផ្លូវ​ច្បាប់​ដ៏​ងាយ​ស្រួល​ដើម្បី​ទិញ​អគារ​ស្នាក់​នៅ​ក្នុង​ប្រទេស​កម្ពុជា។​ មាន​តម្រូវ​ការ​ជា​ច្រើន​ ពីព្រោះ​មនុស្ស​ជា​ច្រើន​ចង់​ទិញ​ផ្ទះ​ដែល​នឹង​មាន​តម្លៃ​ខ្ពស់។
«ខ្ញុំ​គិត​ថា​ ផល​ប្រយោជន៍​នេះ​នឹង​បង្កើន​តម្រូវ​ការ​សម្រាប់​អចលន​ទ្រព្យ។ ​ដូច្នេះ​ លោក​អ្នក​មាន​មនុស្ស​ជា​ច្រើន​អាច​រក​ទិញ​ផ្ទះ។​ ដូច្នេះ​រឿង​នោះ​នឹង​ជួយ​ឱ្យ​ចាប់​ផ្តើម​ឡើង​វិញ​នូវ​ជំនួញ​អចលន​ទ្រព្យ»។
Paul​ Luchtenburg ​បាន​បន្ថែម​ថា​ វា​នឹង​នាំ​យក​ប្រាក់​កាន់​តែ​ច្រើន​ចូល​មក​ក្នុង​ប្រទេស​នេះ។​ ដូច្នេះ​ លោក​គិត​ថា​ វា​ជា​រឿង​ល្អ​ណាស់ ​និង​ការ​សន្សំ​ប្រាក់​កាន់​តែ​បាន​ច្រើន​ថែម​ទៀត។
លោក​ JEREMY Ha ​នាយក​ធនាគារ​ភ្នំពេញ​ពាណិជ្ជ ​បាន​ថ្លែង​នៅ​ថ្ងៃអង្គារ​នេះ​ថា ​ក្រុម​ហ៊ុន​អភិវឌ្ឍន៍​ និង​សំណង់​កូរ៉េ​ខាង​ត្បូង​មាន​សុទិដ្ឋិ​និយម​ខ្លាំង​ណាស់​ចំពោះ​ការ​អនុម័ត​ច្បាប់​ផ្តល់​កម្ម​សិទ្ធិ​ដល់​ជន​បរទេស​នេះ។​ លោក​គិត​ថា ​ក្រុម​ហ៊ុន​មួយ​ចំនួន​សាង​សង់​អគារ​ស្នាក់​នៅ ​ឬ​អគារ​ខុនដូ ​នឹង​កើន​ឡើង​យ៉ាង​ពិត​ប្រាកដ​នៅ​ក្នុង​ពេល​អនាគត។
«អតិថិ​ជន​របស់​យើង​មាន​២​ផ្នែក​ គឺ​ជន​ជាតិ​កូរ៉េ​ និង​ជន​ជាតិ​ខ្មែរ​ ដោយ​១០% ​សម្រាប់​ក្រុម​ហ៊ុន​កូរ៉េ​ និង​៩០% ​សម្រាប់​ក្រុម​ហ៊ុន​ខ្មែរ​ដែល​ជា​ក្រុម​ហ៊ុន​សំណង់។​ ខ្ញុំ​ក៏​មាន​សុទិដ្ឋិ​និយម​ ជា​ជន​បរ​ទេស​ម្នាក់ ​ពីព្រោះ​ខ្ញុំ​អាច​ទិញ​អគារ​ស្នាក់​នៅ ​ឬអគារ​វីឡា​ ដោយ​ដាក់​ឈ្មោះ​របស់​ខ្ញុំ​ផ្ទាល់។​ ដូច្នេះ​ ជន​ជាតិ​កូរ៉េ​ជា​ច្រើនកំពុង​តែ​ជជែក​គ្នា​អំពី​បញ្ហា​នេះ។​ ច្បាប់​នេះ​គឺ​ងាយ​ស្រួល​ទាក់​ទាញ​ការ​វិនិយោគ​ពី​ប្រទេស​កូរ៉េ​ និង​ប្រទេស​ជប៉ុន»។
លោក​ស៊ឹង​ ប៊ុណ្ណា​ ប្រធាន​សមាគម​វាយ​តម្លៃ​អចលន​ទ្រព្យ​កម្ពុជា​ និង​ជា​ប្រធាន​ក្រុម​ហ៊ុន​អចលន​ទ្រព្យ​ Bonna​ Realty ​Group​ បាន​ថ្លែង​នៅ​ថ្ងៃ​អង្គារ​នេះ​ថា​ ច្បាប់​នេះ​បាន​ផ្តល់​ផល​ប្រយោជន៍​សម្រាប់​ជំរុញ​សកម្ម​ភាព​អចលន​ទ្រព្យ​និង​ទាក់​ទាញ​អ្នក​វិនិយោគ​បរទេស​ឱ្យ​មក​បណ្តាក់​ប្រាក់​ទុន​នៅ​កម្ពុជា។
លោក​ ស៊ឹង​ ប៊ុណ្ណា​បាន​បញ្ជាក់​ថា ​នេះ​ជា​ឱកាស​សម្រាប់​អ្នក​វិនិយោគ​បរទេស​ ដែល​មាន​កម្ម​សិទ្ធិ​ផ្ទាល់​ខ្លួន​លើ​ផ្ទះ​ សម្រាប់​ការ​វិនិយោគ​ និង​ការ​ស្នាក់​នៅ។
លោក​ ស៊ឹង ​ប៊ុណ្ណា ​បាន​បន្ត​ថា ​ច្បាប់​នេះ​នឹង​ជួយ​ជំរុញ​ឱ្យ​ក្រុម​ហ៊ុន​របស់​លោក​អាច​មាន​ដំណើរ​ការ​ល្អ​នៅ​ឆ្នាំ​២០១១​ និង​ជា​កត្តា​មួយ​ជំរុញ​កំណើន​សេដ្ឋ​កិច្ច​កម្ពុជា​ និង​គ្មាន​ការ​ព្រួយ​បារម្ភ។
«ការ​បញ្ចេញ​នូវ​អនុក្រឹត្យ​សម្រាប់​អនុវត្ត​ច្បាប់​ចង់​ឱ្យ​លឿន​ ចង់​ឱ្យ​ចេញ​មក​ដោយ​រលូន​ ចង់​ឱ្យ​ច្បាស់​លាស់​ និង​ត្រឹម​ត្រូវ​ ទៅ​តាម​ច្បាប់​ដែល​បាន​អនុម័ត​ ពីព្រោះ​ច្បាប់​ដែល​បាន​អនុម័ត​នេះ​ មាន​ន័យ​គ្រប់​គ្រាន់​ និង​សម​ស្រប​ ដែល​អ្នក​វិនិយោគ​ក្នុង​ស្រុក ​និង​បរទេស​ សប្បាយ​ចិត្ត​ចំពោះ​ច្បាប់​នេះ​ខ្លាំង​ណាស់»។
លោក​ Daniel​ Parkes ​បាន​ថ្លែង​ថា ​វា​នឹង​ជួយ​ទាក់​ទាញ​ផល​ប្រយោជន៍​បរ​ទេស​ ហើយ​អ្នក​ទាំង​នោះ​រៀប​ចំ​ខ្លួន​មក​វិនិយោគ​នៅ​កម្ពុជា​ឥឡូវ​នេះ​ នឹង​ផ្តល់​ផល​ប្រយោជន៍​ច្រើន​ឡើង​នៅ​ឆ្នាំ​២០១១។
លោក​ Daniel​ Parkes ​បាន​បញ្ជាក់​ថា​ នៅ​៦​ខែ​ខាង​មុន​នេះ​ គឺ​ជា​ពេល​វេលា​ដ៏​ល្អ​ដើម្បី​ទិញ។​ ដោយ​ប្រៀប​ធៀប​ វា​មាន​គុណ​សម្បត្តិ​ជាង​ប្រទេស​ថៃ ​និង​ប្រទេស​វៀតណាម​ សម្រាប់​អ្នក​វិនិយោគ​បរទេស។
ច្បាប់​នេះ​អនុញ្ញាត​ឱ្យ​ជន​បរទេស​មាន​សិទ្ធិ​ទិញ​អចលន​ទ្រព្យ​ចាប់​ពី​ជាន់​ទី​១​ឡើង​ទៅ​ ប៉ុន្តែ​ការ​ទិញ​ផ្ទះ​នៅ​ជាន់​ផ្ទាល់​ដី ​និង​ដី​ធ្លី​ត្រូវ​បាន​ហាម​ឃាត់ ​ហើយ​ការ​ទិញ​អចលន​ទ្រព្យ​ក្នុង​ចម្ងាយ​៣០​ គីឡូ​ម៉ែត្រ​ ​ពី​ព្រំ​ដែន​កម្ពុជា​ជាប់​ជា​មួយ​ប្រទេស​វៀតណាម​ ឡាវ​ និង​ថៃ ​ត្រូវ​បាន​ហាម​ឃាត់។​ ប៉ុន្តែ​លើក​លែង​តែ​នៅ​ក្នុង​តំបន់សេដ្ឋ​កិច្ច​ពិសេស​ និង​តំបន់​ផ្សេងៗ​ទៀត​ដែល​បាន​កំណត់​ដោយ​រដ្ឋា​ភិបាល។
លោក​ អ៊ឹម​ ឈុន​លឹម ​រដ្ឋ​មន្ត្រី​ក្រសួង​ដែន​ដី​នគរូបនីយ៍​កម្ម​ និង​សំណង់​ បាន​បញ្ជាក់​ថា​ ច្បាប់​នេះ​នឹង​ជួយ​ទាក់​ទាញ​អ្នក​ទិញ​បរទេស​ និង​បង្កើន​កំណើន​សេដ្ឋ​កិច្ច​កម្ពុជា។​ ច្បាប់​នេះ​ជំរុញ​ការ​វិនិយោគ​ដោយ​លើក​ទឹក​ចិត្ត​ដល់​ការ​សាង​សង់​សំណង់​នៃ​អគារ​ទំនើបៗ ​អគារ​ខ្ពស់ៗ​ អគារ​ស្នាក់​នៅ​ និង​អគារ​ខុនដូ។
ក្រុម​​មន្ត្រី​បាន​ថ្លែង​ថា ​អនុក្រឹត្យ​នឹង​ត្រូវ​សរសេរ​យ៉ាង​ត្រឹម​ត្រូវ​ស្រប​តាម​ច្បាប់​ដែល​បាន​អនុម័ត​ ហើយ​អនុក្រឹត្យ​នេះ​មាន​លក្ខណៈ​ត្រឹម​ត្រូវ​ និង​សម​រម្យ​សម្រាប់​ភាគី​ទាំង​អស់។
ការ​ផ្តន្ទា​ទោស​នៅ​ក្នុង​ច្បាប់​នេះ​នៃ​មាត្រា​២០​និង​២១​បាន​ចែង​យោង​នៅ​ក្នុង​ច្បាប់​ភូមិ​បាល។​ ច្បាប់​ភូមិ​បាល​ បាន​ សរសេរ​ថា​ ជន​បរទេស​ណា​ដែល​រំលោភ​ច្បាប់​ផ្តល់​កម្ម​សិទ្ធិ​ដល់​ជន​បរទេស​នេះ​នឹង​ត្រូវ​ផ្តន្ទា​ទោស​ពិន័យ​ជា​ប្រាក់​រហូត​ដល់​២.២៥០​ដុល្លារ​អាមេរិក​ ហើយ​មន្ត្រី​សូរិយោដី​ណា​ដែល​រំលោភ​ច្បាប់​ផ្តល់​កម្ម​សិទ្ធិ​ដល់​ជន​បរទេស​នេះ​ នឹង​ផ្តន្ទា​ទោស​ពិន័យ​ជា​ប្រាក់​រហូត​ដល់​១.២៥០​ ដុល្លារ​អាមេរិក​ និង​បន្ថែម​ទោស​រដ្ឋ​បាល​ទៀត៕

Monday, April 05, 2010

Cambodia adopts law to let foreigners own property

By Prak Chan Thul

PHNOM PENH, April 5 (Reuters) - Cambodia's parliament adopted a law on Monday allowing foreigners to own property directly, one of the aims being to attract more investors to the Southeast Asian country.

"This law will surely benefit Cambodia economically, socially, legally, and integrate our country into the region and the world," Im Chhun Lim, minister responsible for construction and urban planning, told parliament after 85 lawmakers out of 96 voted for the law.

Im Chhun Lim said the law would bring an end to the complicated process through which foreigners could buy apartments through a Cambodian representative.

"This will encourage investment in the construction of luxury buildings and high-price apartments," he said.

The law allows foreigners to own apartments above the ground floor in buildings 30 km (19 miles) from the country's borders. Foreigners will only be able to buy a maximum 49 percent of any building.

The law also gives foreigners who already own apartments two years in which to regularise their position and put their property in their own name.

Although the new law will benefit mainly the top end of the property market, Im Chhun Lim said Cambodia's poor would not be left out.

The government and private sector will begin drafting a new policy soon on housing projects, particularly for low- and middle-income people, Im Chhun Lim said.

Cambodia's economy enjoyed several years of double-digit growth before tourism and the garment sector took a hit from the global economic crisis.

The economy was flat in 2009, managing growth of just 0.1 percent according to a finance ministry estimate. Output in the construction sector slumped 42 percent in 2009 to $1.7 billion, according to the Land Management Ministry.

Thursday, March 25, 2010

Cambodia to let foreigners own property

Posted at Alibaba.com

PHNOM PENH, March 25 - Cambodia's parliament is to debate a law next month that would allow foreigners to own property directly, one of the aims being to attract more investors to the Southeast Asian country.

Until now, foreigners wanting to buy property have had to do it through a Cambodian representative.

"This is a really good thing, because all these modern apartments, the Cambodians don't have money to buy them," said Nun Pheany, spokeswoman at the Land Management Ministry. "For condominiums, this is an encouragement to investors."

Neighbouring countries including Vietnam had passed similar laws, so it was time Cambodia did, she said. "We want to have contact with big investors, to make them feel warm in Cambodia."

The National Assembly will begin debating the legislation on April 1. It would allow foreigners to own apartments above the ground floor in buildings 30 km (19 miles) from the country's borders. Foreigners will only be able to buy a maximum 49 percent of any building.

"This law has been sought by the private sector. We've wanted it for quite some time," said Sung Bonna, chief executive of Bonna Realty Group and president of the National Valuers Association.

"This will encourage foreigners, investors to help the recovery. The real estate and construction sectors have been weak," Sung Bonna said.

Heng Sakara, a manager at All Plan International, developer of the $55 million River Palace 31 in Phnom Penh, said the law could attract huge numbers of foreigners to the country.

"Diplomats and investors, most of them want to buy units, apartments for their personal property. Cambodians couldn't afford to buy all of them," Heng Sakara said, adding it was good news for his 31-storey project, suspended due to the economic slump.

Cambodia's economy enjoyed several years of double-digit growth before tourism and the garment sector took a hit from the global economic crisis. The economy probably shrank in 2009.

Sung Bonna said Cambodia's real estate and construction sectors were hit hard in 2008 and 2009 and forecast that this year would be only a little better.

Output in the construction sector slumped 42 percent in 2009 to $1.7 billion, ministry spokeswoman Nun Pheany said. She did not yet have have data for 2010.

Friday, December 04, 2009

Cambodia allows foreigners to own property [-Another Hun Xen's broken promise?]

Fri, Dec 04, 2009

PHNOM PENH, CAMBODIA (AFP) - The Cambodian government on Friday approved a draft law allowing foreign ownership of buildings such as apartments and office buildings to boost economic growth, the country's cabinet said.

The draft law approved in a meeting chaired by premier Hun Sen was aimed at "attracting investors, facilitating the growth of real estate market, and pushing the development", a cabinet statement said.

But Information Minister and government spokesman Khieu Kanharith said foreigners will be permitted to own only buildings and apartments, not the land beneath them.

"We will allow foreigners to have ownership of buildings from the first floor up," he told AFP.

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

The move comes after the private sector in recent years urged the government to allow foreign ownership of properties such as apartments or factories, saying a liberalised real estate market would spur the economy.

Under the current rules, foreign property investments can only be made through the name of a Cambodian national, and many are unwilling to risk losing their assets to potentially unscrupulous local partners.

The cash-strapped country's investment law was amended in 2005 to allow foreign ownership of buildings, but the legislation had yet to be implemented and the initiative floundered.

Despite current restrictions, billion-dollar skyscraper projects and sprawling satellite cities promising to radically alter Phnom Penh have bloomed over the past few years.

But many projects have been halted or slowed down as Cambodia has been buffeted by the world financial crisis after several years of double-digit growth fuelled mainly by tourism and garment exports.

The International Monetary Fund in September predicted Cambodia's economy will contract 2.75 percent this year amid the slowdown.

Friday, July 31, 2009

Cambodia approves sub-decree of co-ownership regulations

PHNOM PENH, July 31 (Xinhua) -- Cambodia's Council of Ministers on Friday approved a sub-decree of new co-ownership regulations, allowing legal ownership of individual apartments or condominium ownership, which paves the way for a law allowing foreign ownership of some property.

The new co-ownership regulations will make it possible to own units within a larger building without having title to the land it's on, according to the press release from the weekly meeting of the Council of Ministers which was presided over by Prime Minister Hun Sen.

"Its objects will guarantee to protect rights of legal holders in apartments or condominiums for co-ownership," it said, adding that it will facilitate to management work of co-ownership of apartments and co-owners who live in the apartments or condominiums.

Moreover, the new regulations will also facilitate co-ownership for sale, exchange, donation, in-heritage, permanent rent, and collateralizing of the private parts as personal ownership. The sub-decree, with seven charters and 27 articles, has large coverage for exercising all kinds of the apartments and condominiums across the country.

"This sub-decree will be applied in the country soon and local people who bought the houses in the apartments, condominiums and skyscrapers blocks will know about the rights and ownership," Nun Pheany, spokeswoman for Ministry of Land Management, Urban planning and Construction, told Xinhua.

The foreigners have not had rights to own Cambodian land or housing so far. They could rent for doing their business or staying only, she stressed.

"In the near future, we will have a law on the foreign ownership of Cambodian land and housing. My ministry and Ministry of Justice are discussing to compose that draft law in accordance with our constitution," she said.

"By that law, the foreigners, perhaps, could own above the first floor for apartments or condominiums, even though, we need to discuss more details," she said.

However, Nun Pheany said the foreigners would not be allowed to buy the land near borders with neighboring countries because it could affect national sovereignty and which is also prohibited by the law.

She said that when foreign title law is to be approved, it will help increase the foreign investment and contribute to economic growth in the country.

Monday, June 22, 2009

Hun Sen reneges on his past pledge not to push for foreign property ownership?

Prime Minister Hun Sen has called on the Ministry of Land Management to speed up drafting of property legislation. (Photo by: Tracey Shelton)

PM pushes for property law to boost foreign investment

Monday, 22 June 2009
Written by Kay Kimsong
The Phnom Penh Post


Hun Sen says that draft legislation allowing foreigners to own apartments will – once completed – give momentum to other sectors of the economy

PRIME Minister Hun Sen on Friday urged the Ministry of Land Management, Urban Planning and Construction to expedite the drafting of new rules that would permit foreign ownership of property in Cambodia.

In a press release issued by the Council of Ministers, Hun Sen said implementation of the rules would lead to an influx of foreign capital investment in the real estate and other sectors.

"The law will make foreigners feel confident in investing in other sectors in Cambodia," he said.

In an interview Sunday, Sung Bonna, CEO of Bonna Realty Group and president of the National Valuers Association of Cambodia, said he welcomed the premier's comments, calling them "a highly valued answer to help the real estate industry survive".

He added, "Samdech [Hun Sen] made a good decision with this law. This law is a positive law that will benefit the country's economy."

The NVA is to meet today with a working group of government officials and private sector representatives to give input on the new rules.
The law will make foreigners feel confident in investing in other sectors in Cambodia.
Existing rules prohibit foreigners from owning property, which supporters say prevents speculation and price volatility. The proposed changes would allow for foreign ownership of houses, apartments and condominiums above the ground floor. Foreigners would also be able to inherit property.

Sung Bonna said all 15 members of the NVA fully supported the changes, though he said they would put forth two recommendations during the meeting today.

First, he said foreigners should only be able to buy property that costs $50,000 or more so that cheaper apartments would be available to Cambodians.

Second, there should be some limit as to how much property any one foreigner can purchase.

Senior Cambodian People's Party lawmaker Cheam Yeap also called for some limits to the law, noting in particular the government's view that foreigners should not be able to buy land located near the border so as to prevent foreign ownership of property in disputed areas.

Cheap Yeap said he did not know when the draft would be completed or when it would be sent to the National Assembly.

Im Chamrong, director general of the construction department at the Ministry of Land Management, Urban Planning and Construction, said the rules were still being drafted and would be the subject of debate at an inter-ministerial meeting to be held "soon". He said it was not sure when the draft would be sent to the Council of Ministers.

Sung Bonna dismissed concerns that foreign ownership would lead to undue increases in property prices, saying it would instead provide a much-needed jolt to a sector that has been battered by the economic crisis.

He said he believed the rules would prompt foreigners to consider purchasing second homes in the Kingdom.

"Our country is the best place for second homes where foreigners can relax and stay when they retire," he said. "Our country is a destination with intact natural resources and good weather, and this is the right time to absorb capital flow into Cambodia."

Saturday, February 28, 2009

Foreigners to be allowed to own property in Cambodia

Saturday, February 28, 2009
By Asia Pulse

The Cambodian government is actively taking steps to allow foreigners to own property in Cambodia, Xinhua news agency said, citing the Cambodia Daily on February 20.

The Cambodian Ministry of Land Management, Urban Planning and Construction is now drafting the legal framework to make the idea come true soon, Information Minister Khieu Kanharith was cited as saying at the Banking Cambodia 2009 conference in Phnom Penh.

In a move that will increase the ease of doing business in Cambodia, foreigners will be allowed to have 100 per cent ownership of apartments and condominiums, he said, adding that land, however, will remain off limits to foreign buyers.

At present, foreigners can only gain a 99-year lease on apartments and condominiums.

Wednesday, August 27, 2008

Cambodia mulls allowing foreigners to buy property

Wednesday, August 27, 2008

PHNOM PENH (AFP) — The Cambodian government is considering allowing foreign ownership of property such as apartments and office buildings to boost the country's economic growth, an official said Wednesday.

Under the current rules, foreign property investments can only be made through the name of a Cambodian national, and many are unwilling to risk losing their assets to unscrupulous local partners.

Information Minister Khieu Kanharith said the government is evaluating the policy to ensure that foreigners will be allowed to own buildings and apartments but not land.

"The important thing is that foreigners cannot own land... They can buy things above the ground only," Khieu Kanharith told AFP.

He said that the plan would attract more foreign investment and more skilled foreign workers to the impoverished nation.

"This policy will boost our economic growth," Khieu Kanharith added.

The move comes after the private sector last year urged the government to allow foreign ownership of certain properties like apartments or factories, saying a liberalised real estate market would spur the economy.

Cambodia's investment law was amended in 2005 to allow foreign ownership of buildings, but the legislation has yet to be implemented and the initiative has floundered.

Despite current restrictions, billion-dollar skyscraper projects and sprawling satellite cities promising to radically alter Phnom Penh have bloomed over the past few years.

They are mainly backed by South Korean companies working through local partners.

After decades of turmoil, Cambodia has emerged as a rising economy in the region -- posting average 11 percent growth over the past three years on the back of strong tourism and garment sectors.

But officials warn that the country, which still relies on international aid for half of its annual budget, must diversify by seeking more varied foreign investments.

Sunday, February 17, 2008

Article implies Nuth Narang as the source of rumor of law amendment allowing foreigners to buy property in Cambodia

Will Cambodia’s Government Blow Property Market Wide Open

Sat, 16 Feb 2008
Originally posted at http://www.a2mediagroup.com/?c=169&a=21163

Nuth Nurang, Secretary of State at Cambodia's Ministry of Land Management, Urban Planning and Construction has revealed that the government is considering an amendment to Cambodia's law that would allow foreigners to buy property in the rapidly emerging market freehold.

Currently the best option for foreigner investors is to buy on a leasehold tenure of up to 99 years. Another option is to form a company with Cambodian partners - this carries complex tax issues and needs to be considered carefully.

David Stanley Redfern's French Colonial Apartments in Cambodia's growth centre, the capital Phnom Penh are on a 99 year leasehold tenure. The contract includes the option to buy the properties freehold if and when the law is amended - experts predict that foreigners will be buying freehold in Cambodia before this year is out, likely a lot sooner.

Foreigners being able to buy property freehold would blow the Cambodian property market wide open. Bouncing back from the brutality of the Khmer Rouge gives Cambodia's emergence a vibrancy and vitality all of its own. From the children in school upwards there is a drive and determination to put Cambodia where it should be on the global scene, and to make sure the thousands who were killed didn't die in vane.

Most of Cambodia's male population is under the age of 25, as a result of Khmer Rouge mass murders, and the aforementioned drive means every child in school is there to learn as much as they can and to be all they can be. I'm not sure how much of an attraction this is to the multinational companies currently flocking into Cambodia, probably not as much of an attraction as the low cost of living and potential for a low cost workforce.

Either way it is good for the Cambodian's. Multinational companies are not only setting up shop in the emerging market, but are making Cambodia their S.E. Asian operations hub.

I asked an incredibly knowledgeable source, who is well travelled in Asia but unfortunately can't be named, how much the big companies pay the local staff they employ in the lower positions, more than Cambodian's would normally make, or the absolute bare minimum.

I learned that they - especially the big banking operations - often have to pay more to get the best out of their workforce, and they are also giving perks like health insurance and dental plans. And that because of Cambodia's better-than-you-might-expect education system, combined with the aforementioned determination that permeates Cambodian society, often the staff are getting promoted and getting pay-rises to keep them in the company.

When things like this are happening the economy is regenerating all the time, especially in the world's main growth hot-spot and a place experts believe will enjoy sustained growth over at least the next five years.

The Cambodian's in stable and well paid employment have money to spend on their accommodation rented or bought, spending their wages is spreading money throughout the business sector, living costs start to go up, meaning building materials start costing more, labourers and tradesmen get closer to what they should for their hard-labour - all pushing up the value of Cambodian property.

A prediction for the future might be some of the big car companies opening operations in Cambodia - watch this space for that and be the first to know the minute freehold ownership is possible for foreigners in Cambodia.

Find out more about Cambodia investment property at:
http://www.davidstanleyredfern.com/investment-property/cambodia/.

Wednesday, September 05, 2007

Cambodia seeks investors for economic expansion

Cambodian passengers sit on top of pickup truck driven past an unfinished building in Phnom Penh, Cambodia, Monday, Sept. 3, 2007. Investors pushed the Cambodian government to allow foreign ownership on property Tuesday, saying such a step is important for advancing economic growth in the country. (AP Photo/Heng Sinith)

Wednesday, September 05, 2007
AFP

PHNOM PENH: Cambodia’s private sector met Tuesday with government officials for talks on the future of the economy, with a clear call from businesses for the country to seek more foreign investment.

The underlying point from business leaders was that investment must be encouraged, even if that meant loosening controls in sectors on which the government has historically kept a firm grip.

Chief among these is the country’s real estate market, which in the past few years has enjoyed an unprecedented boom as land prices soar and dozens of building projects get underway in the capital.

Business people have urged the government to deepen its investment base by opening property ownership to foreigners for the first time — a measure that many expect could dump tens of millions of dollars into the economy and spur on greater industrial growth.

Under the current rules, foreign property investments must be made in the name of a Cambodian national, and many are unwilling to risk losing their assets to unscrupulous local partners.

While Cambodia’s investment law was amended in 2005 to allow foreign ownership of permanent fixtures, the legislation has yet to be implemented and the initiative has floundered.

“This is already a sector of the economy that is dynamic, but foreign ownership of apartments, condominiums and other such structures on the land will help spur further economic growth,” said Bretton Sciaroni, an American lawyer who serves as the chairman of the International Business Club.

“Such a regulatory development will provide a dramatic indication that Cambodia has an investor-friendly environment,” he added.

After decades of turmoil, Cambodia has emerged as a rising economy in the region — posting an average of 11 percent growth over the past three years on the back of strong tourism and garment sectors.

But these economic pillars are by no means insulated from growing regional competition, and officials said moves must be made to protect the gains made over nearly a decade of rapid expansion.

Cambodia’s 2.5 billion-dollar textile industry has posted double-digit export growth year-on-year and employs some 350,000 workers, making it the country’s largest industrial operation.

But it also continues to be buffeted by labour disputes which will become especially critical next year when restrictions against Chinese garment exports expire, forcing Cambodia into greater competition with this Asian giant.

“In short, there are too many unions,” said Van Sou Ieng of the Garment Manufacturers Association of Cambodia (GMAC), urging greater government regulation of the more than 1,000 workers’ groups.

Illegal strikes, sometimes as many as two a day, and repercussions against workers who do not walk off the job are also endemic, he told government leaders.

“The frequency of these occurrences ... is becoming alarming, and if left unattended and unresolved, they will destroy Cambodia’s reputation for attracting and maintaining investors,” he said.

The tourism sector, which has also enjoyed significant yearly growth, must also adapt if it is to attract both visitors and investors, business leaders said.

Already, several private companies have been granted licenses to develop Cambodia’s islands off its southern coast as the country tries to scale up its resort offerings.

Officials Tuesday also mooted for the first time the revival of a national air carrier that is hoped to take advantage of growing regional tourism.

The country’s last national carrier, Royal Air Cambodge, was shuttered in 2001 after running up losses of 30 million dollars.

Domestic air routes are expected to prove vital to developing some of Cambodia’s more remote locations, as well as encouraging travelers to seek sights beyond the famed Angkor temples in northwest Cambodia, which remain its most popular tourist draw.

“National carriers are an important tool for promoting destination tourism for any country,” said Ho Vandy, president of the Cambodian Association of Travel Agents.

Tuesday, September 04, 2007

Cambodia urged to allow foreign ownership of property


PHNOM PENH (AFP) - - Cambodia's private sector Tuesday urged the government to allow foreign ownership of certain properties like apartments or factories, saying a liberalised real estate market would spur economic growth.

Under the current rules, foreign property investments must be made in the name of a Cambodian national, and many are unwilling to risk losing their assets to unscrupulous local partners.

While Cambodia's investment law was amended in 2005 to allow foreign ownership of permanent fixtures, the legislation has yet to be implemented and the initiative has floundered.

"There are several reasons for urgent action," said Bretton Sciaroni, an American lawyer who serves as the chairman of the International Business Club and was speaking Tuesday at a meeting between the private sector and government.

The measure would further develop Cambodia's real estate market, taking advantage of a current boom and making the country competitive with its neighbours, which allow foreigners to own apartments or condominiums.

Vast new building projects have bloomed in the past few years, including a number of sprawling satellite cities worth billions of dollars that when constructed will radically alter the face of the capital.

"This is already a sector of the economy that is dynamic, but foreign ownership of apartments, condominiums and other such structures on the land will help spur further economic growth," Sciaroni said.

"Such a regulatory development will provide a dramatic indication that Cambodia has an investor-friendly environment," he added.

After decades of turmoil, Cambodia has emerged as a rising economy in the region -- posting an average of 11 percent growth over the past three years on the back of strong tourism and garment sectors.

But officials warn that the country, which still relies on international aid for half of its annual budget, must diversify by seeking more varied foreign investments.

"There are other sectors we are trying to encourage, but we have to find out what are the sectors where we can be competitive," Commerce Minister Cham Prasidh told AFP in an interview last week.

"If we try to produce the same thing as Thailand or Malaysia, it will be very difficult," he added.