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Real Estate Management Project

Abstract*

The objective of the Real Estate Management Project is to improve the efficiency, transparency, accessibility and reliability of Serbia’s real property management systems. There are four components to the project, the first component being valuation and property taxation. This component includes improving the system for annual property taxation through: (i) developing a sales price registry for real estate; (ii) developing software to process data...

* The project abstract is drawn from the PAD, SAR or PGD and may not accurately reflect the project's current nature

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Development Objective

To improve the efficiency, transparency, accessibility and reliability of Serbia’s real property management systems.

Key Details

Project Details

  • P147050

  • Closed

  • Olivera Jordanovic

  • Republic of Serbia

  • Serbia

  • December 13, 2013

  • (as of board presentation)

    March 16, 2015

  • October 8, 2015

  • US$ 44.00 million

  • Ministry of Construction Transport and Infrastructure,Republic Geodetic Authority

  • Europe and Central Asia

  • 2015

  • US$ 66.90 million

  • B

  • Not Applicable

  • July 31, 2024

  • TBD

  • BANK APPROVED

  • June 17, 2024

  • Notes

Finances

Financing Plan (US$ Millions)

No data available.
Financier Commitments
International Bank for Reconstruction and Development 66.90

Total Project Financing (US$ Millions)

Product Line IBRD/IDA
IBRD Commitment 66.90
IDA Commitment N/A
IBRD + IDA Commitment 66.90
Lending Instrument
Grant Amount N/A
Total Project Cost** 44.00

Summary Status of World Bank Financing (US$ Millions) as of April 30, 2025

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No data available.
Financier Approval Date Closing Date Principal Disbursed Repayments Interest, Charges & Fees

Detailed Financial Activity as of April 30, 2025

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No data available.
Period Financier Transaction Type Amount (US$)
May 15, 2023 IBRD-84860 Loan Repay 1,943,996.20
May 15, 2022 IBRD-84860 Int Charges 81.69
Jan 28, 2022 IBRD-84860 Loan Disb 488,304.90
Jan 27, 2022 IBRD-90200 Loan Disb 437,815.62
Aug 2, 2022 IBRD-84860 Loan Disb 321,213.94
Aug 15, 2022 IBRD-90200 Loan Disb 305,501.10
Jan 14, 2022 IBRD-90200 Loan Disb 227,013.56
Jan 14, 2022 IBRD-84860 Loan Disb 300,001.75
Dec 22, 2022 IBRD-90200 Loan Disb 328,510.84
Dec 22, 2022 IBRD-90200 Loan Disb 165,527.60
Dec 16, 2022 IBRD-84860 Loan Disb 37,609.17
Dec 22, 2022 IBRD-84860 Loan Disb 9,473.42
Nov 15, 2022 IBRD-90200 Int Charges 16,505.98
Nov 15, 2022 IBRD-90200 Int Charges 12,676.88
Nov 15, 2022 IBRD-90200 Int Charges 119.75
Sep 21, 2022 IBRD-90200 Loan Disb 383,890.88
Nov 15, 2022 IBRD-84860 Int Charges 254.04
Nov 15, 2022 IBRD-84860 Int Charges 49,416.40
Nov 15, 2022 IBRD-84860 Loan Repay 1,854,040.60
Nov 15, 2022 IBRD-84860 Int Charges 25.96
Nov 15, 2022 IBRD-84860 Int Charges 38.05
May 15, 2021 IBRD-90200 Int Charges 28,504.74
May 15, 2021 IBRD-84860 Int Charges 8,054.79
May 15, 2021 IBRD-84860 Int Charges 15,967.77
May 15, 2021 IBRD-84860 Loan Repay 1,799,495.50
May 15, 2021 IBRD-84860 Int Charges 381.43
Nov 19, 2020 IBRD-90200 Loan Disb 995,208.25
Nov 15, 2020 IBRD-84860 Int Charges 263.21
Nov 15, 2020 IBRD-84860 Int Charges 4.40
Nov 15, 2020 IBRD-84860 Int Charges 11,289.91
Aug 11, 2021 IBRD-84860 Loan Disb 185,192.16
Jun 14, 2021 IBRD-84860 Loan Disb 199,960.11
Jun 28, 2021 IBRD-84860 Loan Disb 1,401,647.40
Jun 25, 2021 IBRD-84860 Loan Disb 358,264.16
Jun 3, 2021 IBRD-84860 Loan Disb 151,549.56
Mar 8, 2022 IBRD-84860 Loan Disb 321,134.47
Apr 26, 2022 IBRD-84860 Loan Disb 504,893.47
Nov 22, 2021 IBRD-90200 Loan Disb 813,383.06
Aug 20, 2021 IBRD-90200 Loan Disb 200,146.39
May 15, 2019 IBRD-84860 Int Charges 360.23
May 16, 2019 IBRD-84860 Loan Disb 356,883.40
Nov 20, 2018 IBRD-84860 Loan Disb 432,591.84
Apr 5, 2017 IBRD-84860 Loan Disb 726,862.10
Dec 12, 2017 IBRD-84860 Loan Disb 1,243,608.50
Dec 4, 2017 IBRD-84860 Loan Disb 275,926.75
Sep 25, 2017 IBRD-84860 Loan Disb 1,109,206.80
Nov 15, 2017 IBRD-84860 Int Charges 47.90
Nov 15, 2017 IBRD-84860 Int Charges 221.10
Nov 15, 2017 IBRD-84860 Int Charges 41,071.70
Nov 15, 2017 IBRD-84860 Int Charges 15,317.92
Jul 27, 2017 IBRD-84860 Loan Disb 507,568.03
Jul 27, 2018 IBRD-84860 Loan Disb 1,008,359.00
Mar 9, 2018 IBRD-84860 Loan Disb 1,320,286.50
Mar 28, 2018 IBRD-84860 Loan Disb 1,097,651.80
May 15, 2016 IBRD-84860 Int Charges 42,731.82
May 15, 2016 IBRD-84860 Int Charges 53.11
May 15, 2016 IBRD-84860 Int Charges 48,745.27
May 15, 2016 IBRD-84860 Int Charges 3,951.59
Sep 30, 2016 IBRD-84860 Loan Disb 1,209,561.80
May 15, 2017 IBRD-84860 Int Charges 697.21
May 10, 2017 IBRD-84860 Loan Disb 354,485.10
May 15, 2017 IBRD-84860 Int Charges 238.44
May 15, 2017 IBRD-84860 Int Charges 40,901.77
May 15, 2017 IBRD-84860 Int Charges 9,846.16
Apr 26, 2017 IBRD-84860 Loan Disb 116,455.16
Jun 28, 2017 IBRD-84860 Loan Disb 989,233.44
Oct 4, 2016 IBRD-84860 Loan Disb 830,497.44
Nov 17, 2017 IBRD-84860 Loan Disb 443,467.47
Oct 8, 2015 IBRD-84860 Loan Disb 102,206.18
Oct 8, 2015 IBRD-84860 Fee Charges 102,206.18
Nov 18, 2015 IBRD-84860 Loan Disb 1,599,525.00
Mar 22, 2016 IBRD-84860 Loan Disb 371,860.88
Dec 8, 2016 IBRD-84860 Loan Disb 523,595.70
Nov 15, 2016 IBRD-84860 Int Charges 131.68
Nov 15, 2016 IBRD-84860 Int Charges 103.97
Nov 15, 2016 IBRD-84860 Int Charges 45,039.81
Nov 15, 2016 IBRD-84860 Int Charges 4,369.57
Jul 13, 2016 IBRD-84860 Loan Disb 96,248.88
Dec 1, 2016 IBRD-84860 Loan Disb 589,852.10
Oct 5, 2016 IBRD-84860 Loan Disb 328,496.06
Feb 8, 2017 IBRD-84860 Loan Disb 708,503.00
Jun 23, 2016 IBRD-84860 Loan Disb 615,178.25
Jan 20, 2021 IBRD-84860 Loan Disb 985,873.00
Dec 18, 2020 IBRD-84860 Loan Disb 391,499.84
Dec 18, 2020 IBRD-90200 Loan Disb 841,053.00
Jun 3, 2021 IBRD-84860 Loan Disb 365,678.94
Jun 3, 2021 IBRD-90200 Loan Disb 177,676.10
Jun 22, 2021 IBRD-90200 Loan Disb 137,431.98
Jun 16, 2021 IBRD-90200 Loan Disb 1,198,117.90
Jun 16, 2021 IBRD-90200 Loan Disb 758,160.44
May 25, 2021 IBRD-90200 Loan Disb 177,217.98
May 15, 2021 IBRD-84860 Int Charges 316.58
Sep 30, 2020 IBRD-84860 Loan Disb 1,043,918.44
May 7, 2020 IBRD-84860 Loan Disb -119,691.06
May 15, 2020 IBRD-84860 Int Charges 274.44
May 15, 2020 IBRD-84860 Int Charges 137.40
May 15, 2020 IBRD-84860 Int Charges 12,882.44
May 15, 2020 IBRD-84860 Int Charges 33,344.96
May 15, 2020 IBRD-84860 Loan Repay 1,340,836.00
May 15, 2020 IBRD-90200 Int Charges 16,867.59
May 15, 2020 IBRD-90200 Int Charges 21.71
Apr 21, 2020 IBRD-84860 Loan Disb 120,467.23
Aug 4, 2020 IBRD-84860 Loan Disb 556,008.70
Jul 6, 2020 IBRD-84860 Loan Disb 675,507.70
Oct 22, 2020 IBRD-84860 Loan Disb 250,670.11
Oct 2, 2019 IBRD-84860 Loan Disb 920,045.40
Apr 3, 2019 IBRD-84860 Loan Disb 902,574.60
Jun 7, 2019 IBRD-84860 Loan Disb 1,311,744.20
Jun 18, 2019 IBRD-84860 Loan Disb 265,642.00
Jun 18, 2019 IBRD-84860 Loan Disb 1,925,863.00
Jan 6, 2020 IBRD-84860 Loan Disb 168,198.27
Mar 25, 2020 IBRD-84860 Loan Disb 172,388.12
Dec 9, 2019 IBRD-84860 Loan Disb 215,061.19
Mar 31, 2020 IBRD-84860 Loan Disb 274,084.53
Apr 21, 2020 IBRD-84860 Loan Disb 475,643.22
Jan 23, 2020 IBRD-84860 Loan Disb 879,009.44
Feb 19, 2020 IBRD-90200 Fee Charges 56,658.00
Feb 19, 2020 IBRD-90200 Loan Disb 56,658.00
Nov 20, 2018 IBRD-84860 Loan Disb 679,318.60
Dec 21, 2023 IBRD-90200 Loan Disb 185,428.56
Dec 21, 2023 IBRD-90200 Loan Disb 452,656.90
Nov 15, 2023 IBRD-84860 Int Charges 0.51
Nov 15, 2023 IBRD-84860 Int Charges 536,933.06
Nov 15, 2023 IBRD-84860 Loan Repay 1,941,584.00
Nov 15, 2023 IBRD-90200 Int Charges 9,077.46
Nov 15, 2023 IBRD-90200 Int Charges 308,703.62
Nov 15, 2023 IBRD-90200 Loan Repay 880,110.10
Nov 15, 2023 IBRD-90200 Int Charges 48.77
Nov 15, 2023 IBRD-90200 Int Charges 502.98
May 15, 2024 IBRD-90200 Int Charges 4,854.73
Jul 31, 2024 IBRD-90200 Loan Disb 7,138.59
Feb 23, 2024 IBRD-90200 Loan Disb 120,241.42
Jan 19, 2024 IBRD-90200 Loan Disb 147,773.84
Jan 19, 2024 IBRD-90200 Loan Disb 252,540.77
Jan 19, 2024 IBRD-90200 Loan Disb 293,949.00
Jun 4, 2024 IBRD-90200 Loan Disb 433,897.84
Jun 4, 2024 IBRD-90200 Loan Disb 1,629,900.00
Nov 21, 2022 IBRD-90200 Loan Disb 345,068.22
Dec 29, 2022 IBRD-84860 Loan Disb 44,635.98
Feb 28, 2023 IBRD-90200 Loan Disb 322,137.50
May 15, 2023 IBRD-90200 Int Charges 158.59
May 15, 2023 IBRD-90200 Loan Repay 758,615.00
May 15, 2023 IBRD-90200 Int Charges 27.91
May 15, 2023 IBRD-90200 Int Charges 12,986.00
May 15, 2023 IBRD-90200 Int Charges 172,996.60
Apr 18, 2023 IBRD-90200 Loan Disb 266,394.53
Aug 4, 2023 IBRD-90200 Loan Disb 316,389.30
Jun 14, 2023 IBRD-90200 Loan Disb 115,342.08
May 26, 2023 IBRD-90200 Loan Disb 275,552.22
May 26, 2023 IBRD-90200 Loan Disb 644,664.80
Jan 19, 2023 IBRD-90200 Loan Disb 342,868.84
Jan 19, 2023 IBRD-90200 Loan Disb 370,332.88
Jan 19, 2023 IBRD-90200 Loan Disb 1,517,210.20
Jan 19, 2023 IBRD-90200 Loan Disb 267,709.22
Jan 19, 2023 IBRD-90200 Loan Disb 283,340.22
Oct 24, 2023 IBRD-90200 Loan Disb 394,448.70
Jun 30, 2023 IBRD-84860 Loan Cancel 1,622.18
May 15, 2023 IBRD-84860 Int Charges 391,737.80
Oct 1, 2018 IBRD-84860 Loan Disb 1,211,868.10
Jun 18, 2019 IBRD-84860 Loan Disb 717,094.70
Nov 15, 2019 IBRD-84860 Int Charges 86.20
Nov 15, 2019 IBRD-84860 Int Charges 16,548.84
Nov 15, 2019 IBRD-84860 Int Charges 48,409.94
Nov 15, 2019 IBRD-84860 Loan Repay 1,259,091.40
Nov 15, 2019 IBRD-84860 Int Charges 254.78
Jul 17, 2019 IBRD-84860 Loan Disb 353,468.66
Jul 13, 2018 IBRD-84860 Loan Disb 962,754.00
May 15, 2018 IBRD-84860 Int Charges 388.80
May 15, 2018 IBRD-84860 Int Charges 84.26
May 15, 2018 IBRD-84860 Int Charges 35,995.29
May 15, 2018 IBRD-84860 Int Charges 19,467.21
Jul 13, 2018 IBRD-84860 Loan Disb 189,350.06
Sep 12, 2018 IBRD-84860 Loan Disb 181,729.19
Jun 4, 2018 IBRD-84860 Loan Disb 1,240,699.00
May 17, 2018 IBRD-84860 Loan Disb 288,511.47
Jan 15, 2019 IBRD-84860 Loan Disb 894,410.20
Nov 21, 2018 IBRD-84860 Loan Disb 188,899.95
Nov 15, 2018 IBRD-84860 Int Charges 329.47
Nov 15, 2018 IBRD-84860 Int Charges 44.67
Nov 15, 2018 IBRD-84860 Int Charges 28,740.40
Nov 15, 2018 IBRD-84860 Int Charges 27,387.08
May 15, 2019 IBRD-84860 Int Charges 78.05
May 15, 2019 IBRD-84860 Int Charges 23,146.01
May 15, 2019 IBRD-84860 Int Charges 35,922.15
May 15, 2019 IBRD-84860 Loan Repay 1,000,187.70
May 15, 2023 IBRD-84860 Int Charges 26.39
Apr 29, 2022 IBRD-90200 Loan Disb 393,634.84
Mar 4, 2022 IBRD-90200 Loan Disb 394,600.03
Jul 13, 2022 IBRD-90200 Loan Disb 356,047.44
Mar 23, 2022 IBRD-90200 Loan Disb 224,825.88
May 15, 2022 IBRD-90200 Int Charges 194.22
May 15, 2022 IBRD-90200 Int Charges 18,001.99
May 15, 2022 IBRD-84860 Int Charges 1,560.02
May 15, 2022 IBRD-84860 Int Charges 14,183.88
May 15, 2022 IBRD-84860 Loan Repay 1,795,198.00
May 15, 2022 IBRD-84860 Int Charges 65.81
Nov 15, 2021 IBRD-90200 Int Charges 23,835.25
Nov 15, 2021 IBRD-90200 Loan Disb 410,905.62
Sep 17, 2021 IBRD-90200 Loan Disb 545,220.20
Sep 17, 2021 IBRD-84860 Loan Disb 414,025.38
Nov 15, 2021 IBRD-84860 Loan Disb 504,652.16
Nov 15, 2021 IBRD-84860 Int Charges 4,391.26
Nov 15, 2021 IBRD-84860 Int Charges 17,345.57
Nov 15, 2021 IBRD-84860 Loan Repay 1,850,766.80
Nov 15, 2020 IBRD-84860 Int Charges 68,159.04
Nov 15, 2020 IBRD-84860 Loan Repay 1,585,488.90
Nov 15, 2020 IBRD-90200 Int Charges 31,113.78
Nov 15, 2020 IBRD-90200 Int Charges 114.19
Jan 21, 2021 IBRD-90200 Loan Disb 607,150.00
Jan 21, 2021 IBRD-84860 Loan Disb 424,884.80
Feb 8, 2021 IBRD-90200 Loan Disb 579,836.90
Jul 19, 2024 IBRD-90200 Loan Disb 63,042.36
Apr 9, 2024 IBRD-90200 Loan Disb 328,196.44
Apr 9, 2024 IBRD-90200 Loan Disb 117,782.76
Nov 21, 2019 IBRD-90200 Loan Commitment 22,900,000.00
Mar 16, 2015 IBRD-84860 Loan Commitment 44,000,000.00
Feb 5, 2024 IBRD-90200 Loan Disb 211,269.20
Jul 11, 2024 IBRD-90200 Loan Disb 610,968.44
Apr 26, 2024 IBRD-90200 Loan Disb 22,287.42
Jun 27, 2024 IBRD-90200 Loan Disb 107,040.00
May 15, 2024 IBRD-90200 Int Charges 293.57
May 15, 2024 IBRD-84860 Int Charges 1.53
May 15, 2024 IBRD-90200 Int Charges 4,623.65
May 15, 2024 IBRD-90200 Int Charges 397,022.80
May 15, 2024 IBRD-90200 Loan Repay 1,112,610.20
May 15, 2024 IBRD-84860 Int Charges 541,009.94
May 15, 2024 IBRD-84860 Loan Repay 1,934,257.90
Jun 29, 2023 IBRD-90200 Loan Disb 313,927.88
Jun 29, 2023 IBRD-90200 Loan Disb 142,961.19
Sep 27, 2023 IBRD-90200 Loan Disb 261,079.58
Sep 15, 2023 IBRD-90200 Loan Disb 235,751.60
Oct 23, 2023 IBRD-90200 Loan Disb 267,982.50
Nov 27, 2023 IBRD-90200 Loan Disb 340,767.44
Dec 21, 2023 IBRD-90200 Loan Disb 441,005.78
Dec 21, 2023 IBRD-90200 Loan Disb 162,970.66

Footnotes

Ratings

IMPLEMENTATION RATINGS

Name Review Date
Procurement Moderately Satisfactory 2023-12-20
Progress towards achievement of PDO Satisfactory 2023-12-20
Financial Management Satisfactory 2023-12-20
Monitoring and Evaluation Satisfactory 2023-12-20
Overall Implementation Progress (IP) Satisfactory 2023-12-20
Project Management Satisfactory 2023-12-20

COMPLETION RATINGS

INDICATORIMPLEMENTATION COMPLETION & RESULTS REPORT: 01-29-2025
Outcomes
Risk to Development Outcome
Bank Performance
Borrower Performance
Government Performance
Implementing Agency

INDEPENDENT EVALUATION RATINGS

No data available.

Results Framework

PROJECT DEVELOPMENT OBJECTIVE INDICATORS

INDICATORBASELINECURRENTTARGET
  • Avg no. of days to complete recordn of purchase/sale of property in land adm systmValue48.003.757.00
    DateJanuary 1, 2015December 11, 2023December 31, 2019
    Comment
  • Rules, procedures, methodologies and information widely and easily accessible and procedures operate for public to verify their informationValueLimited availability.Data available on internet.Updated procedures, methodologies and information
    DateJanuary 1, 2015December 11, 2023December 31, 2018
    Comment
  • Open (structured) data available to municipalities for re-useValueNoneAvailableAvailable to all municipalities
    DateJanuary 1, 2015December 11, 2023December 31, 2019
    Comment
  • Increased custiomer satisfaction with real property management system, including as to quality and efficiency.Value66.0091.0070.00
    DateMarch 24, 2014December 11, 2023December 31, 2018
    Comment
  • Avg no. of days to complete recordn of purchase/sale of property–UrbanValue48.004.087.00
    DateJanuary 1, 2015December 11, 2023December 31, 2019
    Comment
  • Increased customer satisfaction with real property management system, including as to quality and efficiency - femaleValue67.0091.000.00
    DateMarch 30, 2018December 11, 2023
    Comment
  • Avg no. of days to complete recordn of purchase/sale of property–RuralValue48.003.507.00
    DateJanuary 1, 2015December 11, 2023December 31, 2019
    Comment

INTERMEDIATE RESULTS INDICATORS

INDICATORBASELINECURRENTTARGET
  • Property price index establishedValueInitial system in place.Price index for apartments established and publishCompleted
    DateJanuary 1, 2015December 11, 2023
    Comment
  • Integrated REC and Registration System is operational in all RGA officesValueNo integrated systemISREC phase 1 and 2 implemented in all LCOs officeCore system under development
    DateJanuary 1, 2015December 11, 2023
    Comment
  • Corporate strategy and business plan submitted to governmentValueNoYesYes
    DateJanuary 1, 2015December 11, 2023
    Comment
  • Number of persons trainedValue0.008055.002500.00
    DateJanuary 1, 2015December 11, 2023
    Comment
  • Valuers operating in accordance with valuation standards.ValueLimited use of standards.Valuers operating in accordance with the valuationStandards for qualifications and education of valu
    DateJanuary 1, 2015December 11, 2023
    Comment
  • Central archive operationalValueNoYesNo
    DateJanuary 1, 2015December 11, 2023
    Comment
  • Number of persons trained - femaleValue0.003078.00800.00
    DateJanuary 1, 2015December 11, 2023
    Comment
  • Building registerValue0.00100.0020.00
    DateJanuary 1, 2015December 11, 2023
    Comment
  • System for electronic issuing of building permit established.ValueNo systemSystem developed, tested and pilotedSystem developed
    DateJanuary 1, 2015December 11, 2023
    Comment
  • Level of satisfaction of trainees with trainingValue0.0093.4980.00
    DateJanuary 1, 2015December 11, 2023
    Comment
  • Mass appraisal system developedValueNo systemValuation models for apartments, agriculture land,Model tested
    DateJanuary 1, 2015December 11, 2023
    Comment
  • Number of institutions providing data through NSDI.Value17.00133.000.00
    DateSeptember 30, 2019December 11, 2023
    Comment
  • Level of satisfaction of trainees with training - femaleValue0.0094.8680.00
    DateJanuary 1, 2015December 11, 2023
    Comment
  • Number of properties with data maintained in gender disaggregated manner as share of total number of properties registeredValue58.8064.350.00
    DateSeptember 30, 2019December 11, 2023
    Comment
  • Clearing backlogs in accordance with defined service standards.Value0.0099.0550.00
    DateJanuary 1, 2015December 11, 2023
    Comment
  • Properties registered to women as a share of total properties registered.Value34.2041.530.00
    DateSeptember 30, 2017December 11, 2023
    Comment
  • Number of beneficiaries from vulnerable groups assisted through mobile servicesValueno mobile service established yetOne mobile service established for the city of Bel
    DateJanuary 1, 2015December 11, 2023
    Comment
  • Number of beneficiaries from vulnerable groups assisted through mobile services - femaleValue0One mobile service established for the city of Bel
    DateJanuary 1, 2015December 11, 2023
    Comment
  • Digital utility lines completed under the projectValue0.00113233.0013000.00
    DateJanuary 1, 2015December 11, 2023
    Comment
  • Area covered by digital maps under the project.Value4661004.006700000.006700000.00
    DateJanuary 1, 2015December 11, 2023December 30, 2019
    Comment
  • RGA's institutional development roadmap submitted to the government.ValueNoYes
    DateSeptember 30, 2019December 11, 2023
    Comment
  • Area covered with leveling network established under the project as a share of total country area.Value0.00100.0060.00
    DateSeptember 30, 2015December 11, 2023December 31, 2020
    Comment