We’d like to use this opportunity to give you an update on the current status of Terra Adriatica, and to explain why we’re pressing pause on our pilot Locksmith Project.
From the moment we launched www.terraadriatica.hr, our mission was to return productivity to vast tracks of Croatian land with unclean legal title.
We identified and engaged with thousands of individuals around the world who wished to establish a valid claim for land or searched for help with land title issues in the hope they might realize value from its sale.
We have acquired over 7,500 registered users globally; delivered thousands of free reports, and identified possible matches to over 2m land parcels representing an aggregate 4.4 billion square meters.
We believe that the quality of our work has been widely recognised in Croatia and beyond.
We employed some of the smartest people in the country to develop ground-breaking technology to track down and map potential owners of land, despite the severe shortcomings in the land registry.
As a result, tens of thousands of individuals of Croatian descent globally have used our platform to perform searches for land resulting in 4.4 billion square meters identified as a potential match.
A great deal went on to sign up to our Locksmith Project to seek titular claim over 383km2 of land – equivalent to the area of the island of Brač.
We developed a financial solution that in theory provides the financing needed to obtain clean title at no upfront cost to the claimant from investors.
Herein lies our most significant challenge. Putting aside the impact that Covid and the conflict in Ukraine has had on investment funds, the land we identified for our first project was very spread out.
The more dispersed the land, the more difficult it is to fund given the engagement needed at a local level with government, the courts and of course the individuals. A project with land focused in one area would provide economies of scale.
Our intention remains to achieve the goal we set in the very beginning – to bring billions of square meters of dormant land in Croatia to productivity.
Our communication and research among TA community opened us to new perspectives and we hope, may pave the way to offer a new type of service.
Your TA profile and the agreement remain active, we are safekeeping the documentation and collected data from your Locksmith Agreement on our servers and are still here for you to communicate on whatever matter emerges in the meantime.
If you have signed a Locksmith Agreement and our pause causes you to worry or if there are other concerns you may have, please feel free to contact us as even in our “pause mode” we will maintain some service.
Your understanding is appreciated, and the TA team is thankful for your support.
We will be sending further news by e-mail, both the general updates and news related to individual cases.
Our website, and in particular our FAQ page, provides answers to many of the questions we get asked. If you require any further information, please do not hesitate to contact usme on [email protected]