Cambodia Freezes Tycoon's Assets Over Unfinished Housing Project

The Ministry of Land Management, Urban Planning and Construction in Cambodia has ordered the freezing of real estate assets belonging to tycoon Leng Navatra and his company, Galaxy Navatra Group. This action follows persistent complaints from hundreds of buyers of the group's unfinished housing project, Borey Leng Navatra 6A, due to prolonged construction delays. The ministry announced its intention to take over the construction of the residential community, located on the outskirts of Phnom Penh, and to examine and freeze associated assets. As of January 2026, approximately 1,500 housing units remained incomplete. Leng Navatra stated that the project, sold for a total of $185 million, has already incurred expenses of $221 million, with an estimated additional $20 million to $30 million required for completion. He expressed willingness to offer all of his family's assets, including land, vehicles, and properties, to the authorities. However, some of these assets are encumbered by debt and may not be readily available for repayment to buyers or for project completion. Navatra also requested the revocation of his and his siblings' "Oknha" and "Neak Oknha" titles, honorifics awarded for significant government donations, and stated his readiness to accept legal penalties for his company's failure to deliver the project. Some buyers have reported progress in resolving their cases. One buyer received their home from the ministry after intervention, though the title transfer is still pending. This buyer is seeking compensation for the delayed completion and a monthly penalty of $200 for the period of delay, indicating they will pursue legal action if Navatra's company evades responsibility.