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June 5 2002, 14:56 UkrInform

Ranks of Ukrainian landowners multiply rapidly

UkrInform reported that State Land Resources Committee Chief Anatoliy Danylenko announced over 4.5mn of Ukrainian citizens to receive land titles and thus become farmland owners by the end of 2002.

He also stated that presently above 2.8mn of Ukrainian residents already have titles on hand. Another 1.4mn of land titles are being developed.

Along with land titling and sharing Ukraine formulates a system of reality registration which shall guarantee the landowner's security irrespectively of the form of ownership, legalize land market and become an integral part of hypotecary crediting in Ukraine.

As of today the value of arable farmland in Ukraine reaches US $75bn and this solid financial potential should be directed to work for Ukraine's economy.

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