People have little incentive to build and grow on land they do not own.
In the UK all land is 'owned' by the 'Crown'. There are several buildings and farms though, as the people using the land have freehold or leasehold contracts (in effect) with the Crown. In fact most people are unaware of this legal nicety and go about their business as if they owned land themselves.
I don't suppose the World Bank has mentioned it, but the private monopolisation of land also has some negative effects, as famously noted by Henry George.