Samdech Akka Moha Sena Padei Techo Hun Sen, Prime Minister, this morning urged the real estate owners, especially the Borey (gated housing community) owners, to be sympathetic to their customers who use the instalment purchase directly with the Borey, but are no longer able to pay the installment.

At a get-together with more than 18,000 workers from 11 factories and enterprises in Kampong Tralach and Samaky Meanchey districts of Kampong Chhnang province, Samdech Techo Hun Sen said thousands of accounts have restructured by banks during the COVID-19 outbreak, and the context of Russia-Ukraine War and the sanctions, therefore the Borey owners should do the same for those who had applied for installment payment with Borey directly.

The Premier also asked all Borey owners to immediately stop the confiscation and review the loans by reducing the amount of monthly payment and the duration of payment, while the customers have the obligation to continue to pay the installment.

“This is a win-win strategy,” Samdech Techo Prime Minister underlined.

At the same time, Samdech Techo Hun Sen also urged the Ministry of Economy and Finance as well as the Council for the Development of Cambodia to study this issue, emphasising that this is part of social justice.

The construction sector has been booming across Cambodia, mainly in Phnom Penh capital.

In Phnom Penh alone, there are in total some 310 Borey and apartment projects, and 1,603 are high rise buildings.

Source: Agence Kampuchea Presse (AKP)