AREC has won a World Bank Award

29.04 2010

The Macedonian cadastre – leader in the region

        On April 13th  2010, the World Bank office in Skopje organized a press-conference announcing the news that the Real Estate Cadastre and Registration Project, which is implemented by the Agency for Real Estate Cadastre, is one of the 12 winners of the third annual project competition titled: Improving the lives of the people in Europe and Central Asia Region.

         In a competition of 282 projects and among 47 well conceived nominations of projects from Europe and Central Asia region, the World Bank has awarded 12 projects which showed significant results, which have improved the lives of people in certain areas and have contributed to the reforms of specific sectors, among which is the improvement of the property registration system.

         Out of the 12 awarded projects, the Real Estate Cadastre and Registration Project, which is being implemented by AREC, is the only awarded project for property registration among the awarded projects in the region. The Real Estate Cadastre and Registration Project, which is being implemented by AREC, is awarded due to the following results: to date, the real estate cadastre coverage has reach over 98% of the whole territory of R. Macedonia, in comparison to 43% REC coverage at the beginning of the project implementation. The increased number of REC coverage has led to increased number of registered property transactions by 121% as well as to increase of the number of registered mortgages by 114.4%, with an established standard for registering a property transaction in 5 days. The project has also supported the establishment of a private geodetic practice.

The final ceremony event will take place on June 03, 2010 in Washington, and through video conferences, the awarded project will be able to share information and experiences.

 Link to World Bank