State Real Estate

State Real Estate (Latvian: Valsts nekustamie īpašumi, VNĪ) is a Latvian state joint-stock company that manages real estate owned by the Latvian state. It is the largest real estate enterprise in the country. According to Russian Wikipedia, in 2020 the company managed more than 1,200 buildings with a total area of 1.1 million square metres, as well as more than 4,000 land plots with a total area of more than 10 million square metres. Its portfolio is dominated by office buildings (52%), followed by cultural and educational institutions (21%), industrial facilities (14%), border control points (3%), and other objects including hotels, empty and abandoned buildings, and mixed-use properties (10%). The company was founded in 1996, and its sole shareholder is the Ministry of Finance of Latvia. Its estimated value was 309.9 million euros in 2011 and 185.99 million euros in 2020, when it ranked 31st among the most valuable Latvian companies. Until 2019, its offices were located at three Riga addresses (Valņu Street 29, Mūcenieku Street 3, and Smilšu Street 1), but at the end of 2019 they were consolidated in the State Revenue Service complex at Talejas Street 1. VNĪ provides project development services, property management and maintenance, and the disposal or sale of state real estate. It also handles property that has accrued to the state. Its official website lists activities such as sustainable construction, construction supervision, representation of client interests, occupational safety, modern work environments, and a dynamic purchasing system for electricity and office furniture. The company is involved in public-private partnership projects, military infrastructure, and rental housing. As a state-owned enterprise, it operates under corporate governance rules with a council and board, and reports on sustainability and ethics.

State Real Estate (Valsts nekustamie īpašumi, VNĪ) was established in 1996 as a Latvian state enterprise. Its sole shareholder is the Ministry of Finance of Latvia. The company was created to manage real estate owned by the state, and over time it became the largest real estate enterprise in Latvia. In 2011, the company's estimated value was 309.9 million euros. By 2020, its estimated value was 185.99 million euros, placing it 31st among the most valuable Latvian companies. In 2020, it managed more than 1,200 buildings with a total area of 1.1 million square metres and more than 4,000 land plots with a total area of more than 10 million square metres. Until 2019, VNĪ's offices were located at three addresses in Riga: Valņu Street 29, Mūcenieku Street 3, and Smilšu Street 1. At the end of 2019, these offices were consolidated in the State Revenue Service complex at Talejas Street 1. The company's portfolio is diversified: 52% office buildings, 21% cultural and educational institutions, 14% industrial objects, 3% border control points, and 10% other objects including hotels, empty and abandoned buildings, and mixed-use properties. VNĪ provides services such as project development, property management and maintenance, and the disposal or sale of state real estate. It also handles property that has accrued to the state. Its official website highlights activities in sustainable construction, construction supervision, representation of client interests, occupational safety, modern work environments, and a dynamic purchasing system for electricity and office furniture. The company is involved in public-private partnership projects, military infrastructure, and rental housing. As a state-owned enterprise, it operates under corporate governance rules with a council and board, and reports on sustainability and ethics.

• 2020

  The company manages over 1,200 buildings (1.1 million sq m) and over 4,000 land plots (over 10 million sq m); estimated value is 185.99 million euros, ranking 31st among the most valuable Latvian companies.

• 2019

  The company's three Riga offices are consolidated at Talejas Street 1 in the State Revenue Service complex.

• 2011

  The company's estimated value is 309.9 million euros.

• 1996

  State Real Estate (Valsts nekustamie īpašumi) is founded as a Latvian state enterprise.

Latvia's largest state-owned real estate manager, responsible for the national property portfolio.

• Property management and maintenance

• Project development services

• Real estate disposal and sales

• Construction supervision

• Public-private partnership projects

• Military infrastructure

• Rental housing

1. 1Valsts nekustamie īpašumi official websitevni.lv
2. 2State Real Estate - Wikidatawikidata.org
3. 3Государственное недвижимое имущество (Латвия) - Wikipediaru.wikipedia.org