Phnom Penh (FN), Nov. 26 – Cambodian Prime Minister Hun Manet stated that out of 99 Borey projects with disputes between developers and customers, 53 have been successfully resolved, speaking on Tuesday (Nov. 26) during the closing session of the 2024 annual meeting of the Ministry of Land Management.
Samdech Thipadei Hun Manet underscored, "Out of the 99 Borey project disputes, we have resolved 53. Although there were no public outcries or major controversies, we have managed to maintain stability throughout the process."
Samdech Thipadei underlined that no one intended to deceive anyone, but the issues within the Borey projects arose due to the unexpected economic difficulties caused by the uncertainty of COVID19. As a result, builders, sellers, and buyers all became victims of the situation.
On the occasion, Samdech Thipadei continued, in the past, some individuals called for the arrest of certain parties. However, Samdech Thipadei cautioned against escalating these issues into political matters, which would complicate resolution. He warned that creating chaos in some areas would make it harder to resolve disputes in other regions, ultimately affecting broader communities.
At the same time, Samdech Thipadei Hun Manet expressed his gratitude to all stakeholders, including Borey owners and customers, who have contributed to resolving these disputes. He also outlined two primary goals, including 1) resolving disputes and 2) ensuring the survival of the real estate sector.
According to the Ministry of Land Management, Urban Planning and Construction, efforts have been made to address disputes involving 99 real estate projects nationwide. These include 27 Borey developments, equivalent to 77 projects, as well as four markets, condominiums, and 18 land plots. Of these, 53 projects have been resolved, while the remaining 46 are being addressed through cooperative efforts and mutual understanding during these challenging times. These efforts have led to gradual improvements in previously tense situations.
=FRESH NEWS
