PM Unlocks Opportunities: Foreigners Granted 50-Year Leasing Rights for Real Estate in Cambodia

• 14 November 2023
• Property Focus
• 3212 Views

In a significant announcement at the 19th “Royal Government-Private Sector” forum on 13 November, PM Samdech Hun Manet unveiled a groundbreaking initiative granting foreigners the legal right to long-term leases for real estate in Cambodia, extending up to an impressive 50 years. This landmark decision comes at a time when foreign ownership of land remains restricted in the country.

During the forum held at the Peace Palace, PM Hun Manet emphasised, “Even if foreigners do not have the right to buy land, villas, or houses on the ground floor as ownership, foreigners can make contracts on long-term leases for those properties ranging from 15 to 50 years.”

Foreigners, under this new mechanism, not only gain the right to lease properties for extended periods but also acquire additional privileges such as the right to use for benefit, the right to transfer as gifts, and the right to sell and lease.

PM Hun Manet highlighted that “This long-term leasing mechanism is a strategic move by the government, designed for stability and growth, eliminating the need for constitutional amendments”.

• Laws and Regulation
• land development and policy