Owners of 409 units in Phnom Penh’s White Building had agreed to compensation from Japanese developer Arakawa of $1,400 per square meter by Saturday evening, according to a post to the Land Management Ministry’s Facebook page.
That accounts for about 83 percent of the building’s 493 homes, the post said.
Earlier this month, Land Management Minister Chea Sophara told residents at a meeting to accept the $1,400 figure, saying it was “the last time for negotiation.”
Compensation talks for residents of the central Phnom Penh apartment block, which is slated for demolition, have been proceeding for months.
“If three families remain, we can’t knock down the building,” Mr. Sophara said at the meeting.
But some owners are holding out.
Kem Srey Pov, 43, and neighbor Sreng Pov, 40, both said on Sunday they would not agree to the $1,400 figure because it wasn’t enough to buy a new home.
“If they make me leave without having a house to live in, what should I do?” Ms. Srey Pov said.