Land Minister Encourages People to Not Sell Land in Sihanoukville

• 15 March 2019
• Property Focus
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Sihanoukville view

H.E Chea Sophara, Deputy Prime Minister and Minister of the Ministry of Land Management Urban Planning and Construction (MLMUPC), has urged people in Sihanoukville not to sell their land.

During the annual meeting in Tbong Khmum on 12 March 2019, H.E Chea Sophara told attendees to encourage the people in Sihanoukville not to sell their land, but instead put it out for rent.

“Now, people in Sihanoukville, I also called the land department officers to go out and tell people to not sell the land, but rent it,” he said, “rent it only for 20 years, and the tenants will use it for commercial purposes for 15 years then they will return it back. We get the building too, if it’s sold, it’s over”.

H.E Chea Sophara’s remarks came after seeing land prices in Sihanoukville in recent years increasing sharply, especially last year. The prices of land per square metre was US$27, but now has now jumped to US$4,500 per square metre.

In addition, H.E Chea Sophara pointed out that selling land in Sihanoukville made someone, whom he requested not to be named, felt very disappointed because that person sold his land for US$450 million, but within 6 months, the land valued at US$700 million.

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