PHNOM PENH: Housing development is momentum in the Cambodian market, and the number of developers is growing. Some investment projects have been successful, while others have not received much support from customers. An expert in Cambodian real estate and a residential developer presented his personal views as a suffix for new developers to consider before starting a project.
Oknha Nuon Rithy, CEO of Khmer Appraisal Foundation (KFA), stated that before beginning to implement their projects, housing developers should consider a number of factors.
That should include the necessary legal factors to prevent construction from failing. Meet the conditions that may cause a stumbling block and lead to the Ministry prohibiting the resumption of construction activities, and so on.
Oknha Nuon Rithy, CEO of Khmer Appraisal Foundation (KFA), stated that before beginning to implement their projects, housing developers should consider several factors.
That should include the necessary legal factors to prevent construction from failing. Meet the conditions that may cause a stumbling block and lead to the Ministry prohibiting the resumption of construction procedure, and so on.
“Properly drafted rules have made it easier for buyers to obtain a title deed because some customers do not have cash and must obtain a title deed, while others need to obtain a title deed when making a down payment. Keep at home to stay warm ” He mentioned this.
“Because some developers only apply for a construction license and do not have a sales license, a residential developer should also apply for a construction license and a sales license.” he continued to state.
“Another important consideration for developers is proper tax registration. More importantly, housing developers should not prioritize profit over quality of construction and living, such as indoor plumbing, outdoor plumbing, and sewerage. The condition of the land, in particular, is an important consideration for housing developers. “The developer must determine whether the land is flooded or must fill the land high and install a drainage system from the area to prevent flooding.”
Oknha Nuon Rithy stated that, while there are numerous housing development projects in Cambodia, any development project that is innovative and appealing continues to attract supporters and buyers. Especially high-quality projects with a distinct style.