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New AI company solving Croatian land registry problems to present project at diaspora conference in Split

Jelsa (Photo credit: Grant Ritchie)

15 May 2019 – A new company with a solution to the long-standing problem of unresolved legal titles in Croatia, using it’s AI driven proprietary platform, will present its project in Split this week at the 2nd International Conference on Diaspora Tourism. 

Croatian data science company Terra Adriatica (TA), which is a 100% privately financed project, is an AI platform which navigates around all the obstacles of land ownership with clean titles. TA will help you locate real estate in Croatia, rescue your property from the morass of complications and also help monetise it.  

Thousands of land owners in the Croatian diaspora cannot use their property due to unsolved legal issues but TA’s platform will help lead to legal solutions of diaspora land rights and also help with opportunities to sell, attain and develop land in the Homeland. 

After three years of study and work on the problem, TA came up with a solution based on four pillars, artificial intelligence technology, legal certainty, financial and value and ethics.  

“It can be extremely hard to identify land owners in Croatia, because less than a tenth have their OIB (personal identification number) in the land registry books. Also, a significant number of registered owners are actually deceased, so successors have to be identified. Another problem arises when the real estate is still formally owned by non-existing persons or institutions. TA has developed a sophisticated search engine and proprietary algorithms that facilitate finding and identifying the owners, so we can find these people more easily than was possible before,” TA says.

Croatia (Photo credit: Taneli Lahtinen)

TA has produced a legal manual which, assisted by AI, systematically resolves all known legal issues so that degree of difficulties and time needed to achieve clear legal title is significantly reduced. So far, TA has identified 1,6 billion square meters of land which is not used, or it is under used because of unclear ownership.

“Unresolved land registry issues prevent individuals from capitalising their assets. The situation also causes significant problems for local municipalities, hindering real estate transactions, discouraging investment, slowing down economic growth and damaging the credibility of State institutions.”

Ivan Gotovac, the CFO of MPG Southeastern Europe and the Senior Advisor of Terra Adriatica, will be in Split presenting the project at the conference (17-19 May). Below, Ivan talks a bit about the project and extends an invitation to the conference. 

The ‘from the diaspora to the diaspora’ conference will the next steps in developing tourism discussed, as well as opportunities that exist for the diaspora and those that are in the making. The overarching goal of the conference is to find ways to integrate all Croatians as one and to forge the future of the Croatian identity both in Croatia and abroad through social, economic and political solutions. Stories of successful returnees who are making a difference in Croatia will also be told over the two-day conference. 

Some of the Panel Discussion include: 

1.  Successful stories of returnees who have invested in Croatian tourism
2. The Croatian dream
3. The past and the future of the Croatian returnees
4.  Diaspora tourism & investments
5. Health & wellness tourism
6. Croatia as a brand
7. Diaspora culture shock
8. Integration into Croatian businesses
9. Croatian tourism startups
10. Pitch session – innovative Croatian companies
11. The creation of tourism product and the cooperation among the tourist industry
12.  Development niches of diaspora tourism: culture, creativity & events

Come to Split, watch online, engage in the national conversation surrounding tourism, business but most importantly the diaspora and the integral role they play in the future of Croatia. The scope of this conference is to share experiences and knowledge from diaspora to the diaspora. The solutions that we advocate for today will determine the discourse and direction for the future of our Homeland.

To learn more about Terra Adriatica, you can visit their website at: https://www.terraadriatica.net/

To watch the Conference online you can do so here: crodiaspora.com

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