Residents at White Building with their Buyout Settled Moving Out

Residents of the so-called White Building who have settled buyout from Japanese investor, Arakawa Company, are moving out to new homes.

Many families living at the building have so far received the agreed amount through the facilitation of the Ministry of Land Management, Urban Planning and Construction.

The ministry also encouraged the rest of the residents to come and get their buyout settled down as soon as they can.

The White Building has existed since the 1960s; increasingly the site is home to various crimes � let alone its dangerously decaying physical status.

The government has decided to allow a Japanese group called Arakawa develop the building by negotiating with its residents (about 493 families) for reasonable buyout with the support from the Ministry of Land Management, Urban Planning and Construction.

As planned the Arakawa group will transform the White Building into a 21-storey commercial building of high-tech facilities through the investment between US$70-80 million.

The government also finances US$100 for each family at the building to spend on the moving and will throw them a farewell party.

Source: Agency Kampuchea Press