Urban Planning and Construction in cambodia

THE government is set allow foreign citizens to own up to 80 percent of private units in co-owned buildings as part of a new sub-decree due to be approved within the next month, an official from the Land Ministry said Wednesday.

“In one week or a month’s time, the government will approve a sub-decree for an 80 [percent] limit for property that a foreigner can own,” Nun Pheany, spokeswoman for the Ministry of Land Management, Urban Planning and Construction, told the Post.

The sub-decree is linked to the foreign property ownership law, which was passed earlier this year, she said. The law permits foreigners to own property above the ground floor of a building that is not within 30 kilometres of a border.

Despite early drafts of the law stipulating that foreigners would be able to own only 49 percent of a complex, the final law passed left the exact proportion open-ended, stating: “A sub-decree shall determine the proportion and percentage of private units that can be owned by foreigners.”

A sub-decree is generally considered easier than a law to review.