Dushanbe, 05.04.2016. /NIAT “Khovar”/. The World Bank Board of Executive Directors approved today the financing of US$10 million from the International Development Association for the Tajikistan Real Estate Registration Project, which will support the implementation of a unified registration system for immovable property, which should contribute toward the development of property market in Tajikistan.
By registering all rights to land and property in a system that is transparent, efficient and accessible, the legal enforcement of property rights is enhanced for all owners — public, private and individual citizens.
Strengthening the registration service to reduce costs and improve efficiency also supports the development of the property market – as transactions are more secure once registered, more citizens and businesses will be willing to buy and sell. Increased tenure security would also allow for more secure mortgaging of real property, thus laying the foundation for productive investments, business development and job creation.
The State Unitary Enterprise for the Registration of Immovable Property will implement the project in close coordination with the State Committee for Land Management and Geodesy of the Republic of Tajikistan from June 2016 to October 2020.