Phnom Penh (FN), Aug. 22 – Cambodian Prime Minister Hun Manet said that land disputes will be resolved and eliminated in the future, speaking on Thursday (Aug. 22) on the occasion of the 1st Anniversary of the Royal Government of the 7th Legislature.

The premier underscored, "At the 19th Government-Private Sector Forum on November 13, 2023, I announced new tax incentives for the real estate sector to ease the burden on developers and property owners. These measures include: 1) Exemption from capital gains tax on real estate, 2) Allowing construction developers to pay taxes in instalments, and 3) Exemption from stamp duty on the transfer of ownership or occupancy of all housing in Boreys valued at USD 70,000 or less. Initially set to expire at the end of 2024, these incentives will now be extended until the end of 2025 after consulting with the real estate sector.”

Samdech Thipadei instructed the Ministry of Economy and Finance to review existing incentives for the real estate sector that are set to expire, and to assess the need for resuming consultative practices if necessary.

In response to citizens' concerns about land tax, the premier also announced an exemption on unused land tax for properties under five hectares per site. This means that individuals with less than five hectares of land need not worry about taxes on unused land.

In addition to tax incentives, Premier Hun Manet, on behalf of the Royal Government, stated that the Ministry of Land Management, Urban Planning, and Construction is making tireless efforts to address ongoing challenges in the real estate sector through legislative solutions aligned with the win-win policy. To date, out of 37 problematic projects, the Ministry has completed procedures for nine at the Ministry level and continues to work on the remaining projects.

Samdech Thipadei added, "I would like to take this opportunity to thank all stakeholders, including owners, creditors, and clients, for their understanding and cooperation with the Ministry of Land Management, Urban Planning, and Construction in addressing land issues. I encourage everyone to continue participating to achieve a final resolution in the future."

Please be informed that from 2016 to August 2024, the Royal Government received 1,600,000 complaints related to land issues, of which 1,400,000 cases have been resolved.
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