Dženana Hodžić, director of AP Atelier, a furniture company in Tešanj, Bosnia and Herzegovina, is among the entrepreneurs benefiting from easier property registration in the region. Her company, which started as a startup in 2015 and now employs 107 people, was able to expand by acquiring and legally registering additional land for production. This was facilitated by the World Bank's Real Estate Registration Project.
Hodžić explains the impact: "We recently acquired, legalized, and transferred ownership of approximately 5,000 square meters of new land near our existing facility. We need to expand our capacity because our customers demand more of our products."
Efforts to modernize land registration and update IT infrastructure by the World Bank have made public services more accessible and efficient. This aids entrepreneurs in focusing on innovation and daily operations, resulting in opportunities in mortgage and credit markets. Hodžić notes, “Once you purchase property, it's essential to manage the documentation efficiently so you can proceed with your investment. This makes it possible to start operating sooner, repay any loans, and begin generating a profit."
Digitization also plays a key role, as seen in Serbia. Marija Stoiljković, a farmer from Smederevo, benefits from simplified property registration, which enables her to apply for agricultural subsidies. Stoiljković states, “Digitization has made everything easier for us. There are no more endless walks through corridors with piles of papers and forms."
The Real Estate Management Project in Serbia has established an IT infrastructure managing land records for over 85% of the country, reducing average registration time from 48 days to under four. Stoiljković adds, “This is a family-run business, and we had hesitated to expand due to the complex paperwork. Now that the process has been simplified, we are considering growth in the near future.”
In Kosovo, significant investments over the past 15 years have improved the property sector, with the IDA-funded Real Estate Cadaster and Registration project updating records for 15% of the country and reducing transaction registration times by 65%. Ajshe Tershana, former Head of Cadaster Services in Shtime, highlights the progress in property registration for women entrepreneurs.
Through awareness campaigns, one-fifth of all registered property transactions in Shtime involve women, unlocking potential for growth and innovation. Efforts are ongoing to increase awareness about secure land tenure, with the World Bank partnering with local authorities and civil society organizations.
The World Bank's 20-year partnership with Bosnia and Herzegovina, Kosovo, and Serbia in modernizing land registration has strengthened their business environments. Continued digitization and awareness building aim to improve market efficiency and empower small and medium-sized businesses.