Some 100 property developers are to meet with the government today to
discuss contested new rules that aim to tighten licensing requirements
and establish reserve requirements for new construction projects. The
prakas, or edict, would force developers to set aside capital in case
they go bankrupt, while setting tighter licensing requirements.
Government officials say the prakas is aimed at protecting buyers, but
some developers oppose the rule, saying it will hurt the real estate
market. The meeting starts at 2:30pm at the Hotel Cambodiana.