Public Alert: Exercise Caution as NRPC Exposes Unlicensed Housing Projects in Phnom Penh

• 22 June 2023
• Property Focus
• 9918 Views

In an effort to protect the public and maintain the integrity of the real estate market, the National Real Estate and Mortgage Regulator (NRPC) has issued a crucial warning regarding four housing development projects in Phnom Penh that lack the necessary licenses. This announcement, dated 15th June 2023, serves as a stern reminder for individuals to exercise utmost caution when considering property purchases.

The unlicensed housing projects that have come under scrutiny are as follows:

• Borey TV Star, situated in Sangkat Prey Sar, Khan Dangkor, Phnom Penh.
• Borey Try Kim Kour Srov, located in Prek Kampus, Khan Dangkor, Phnom Penh.
• LV Flat Construction, positioned in Sangkat Choam Chao, Khan Por Sen Chey, Phnom Penh.
• Borey The Royal Garden, nestled in Sangkat Kraing Thnong, Khan Sen Sok, Phnom Penh.

The NRPC, as the authoritative regulatory body, strongly advises the public against engaging in any transactions involving these unlicensed housing projects. This includes refraining from purchasing, selling, renting, or conducting any business activities related to these developments. Failure to heed this cautionary advice may result in potential financial losses or the forfeiture of associated benefits.

Individuals are advised to exercise due diligence and seek licensed housing projects that comply with the necessary regulations. By doing so, one can safeguard their investments and ensure a secure and fulfilling real estate experience.

However, as buyers, what are the most important things you need to know before deciding to buy properties in a Borey? (Read more)

• Laws and Regulation