Gov’t Asks Real Estate Developers to Ease Clients’ Financial Burden Amid Pandemic

The Cambodian government yesterday called on all real estate developers in Cambodia to adjust their payment terms and help ease the financial burden of their buyers if needed, as the recent surge in community outbreak has affected many people.

The move came after the National Bank of Cambodia (NBC) and the Ministry of Economy and Finance (MEF) organised a meeting to review and discuss the challenges of the real estate sector in the context COVID-19 pandemic.

After the meeting, NBC and MEF decided to encourage all real estate developers to consider the possibility of easing the installment terms according to the actual situation of customers, and especially avoid putting fines or charging additional interest rate for late payment.

According to the two government bodies, all developers should implement the aforementioned financial easing measures for one year until the end of March 2022.

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