Sphere of activity

Latvian joint-stock company „State Real Estate” was founded on May 17, 1996, and in part it is a successor to the functions of the former State Property Fund. The VNĪ is a 100 percent state-owned non-privatizeable joint stock company.

VNĪ is engaged in the administration and management of immovable property of the state. VNĪ business includes:

* operations with its own immovable property;
* architectural designs of immovable property;
* purchase and sale of its own immovable property;
* leasing and renting out its own immovable property;
* mediation in the operations with immovable property.

In order to provide state institutions with premises, VNĪ performs the renovation and construction of immovable property. Subsidiary companies of the company manage castle buildings that are consigned to them (Castle of Igate, Castle of Mežotne). The income of the subsidiary companies consists of the rental of the premises for different training and pleasure events: banquets, seminars etc.