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Following Chen Zhi's arrest, sales of a major real estate project under the Taizi Group were suspended
Svmuu News: Following the arrest of Prince Group founder Chen Zhi, the National Real Estate and Mortgage Authority (NRPC) of Cambodia ordered a suspension of sales activities for five major apartment and residential development projects under the group on January 12. Homebuyers who have already signed contracts must still fulfill their contractual obligations, and those who have paid in full may apply for title transfer. It is reported that this administrative decision to suspend sales was based on Prince Group’s recent involvement in serious violations of laws and regulations. In earlier news, the National Bank of Cambodia announced that it had formally initiated liquidation proceedings against Prince Bank in accordance with the country’s current relevant laws and regulations. (Red Star News)
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