Odaily Odaily reports that following the arrest of Prince Group founder Chen Zhi, Cambodia's National Regulatory Authority for Real Estate and Mortgage Business (NRPC) ordered the suspension of sales for five large-scale apartment and residential development projects on January 12. Buyers who have already signed contracts are still obligated to fulfill their contractual obligations, while those who have paid in full can apply for property transfer. It is understood that this administrative decision to suspend sales is based on Prince Group's recent involvement in serious violations of laws and regulations. Previously, it was reported that the National Bank of Cambodia had announced the formal initiation of liquidation proceedings against Prince Bank in accordance with current Cambodian laws and regulations. (Red Star News)
Following Chen Zhi's arrest, large-scale real estate projects under the Prince Group were prohibited from sale.
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