About SJSC «State Real Estate»

For all of us the place we live in is the best place in the whole wide world. However, such places are necessary for Latvia too – for all of us together. Houses for museums, institutions, and our government are needed.

Each person takes care of his or her own home, while State Joint Stock Company «State Real Estate» (SRE; Valsts nekustamie īpašumi) takes care of and manages those facilities that are needed for Latvia as a whole. SRE has three customer service centres – in Riga, Daugavpils, and Liepāja.

SRE is a stable and independently profitable capital company that was included in the Commercial Register on 1st October, 2004. SRE is the successor of rights, liabilities, functions, and financial resources of State Joint Stock Company «State Real Estate Agency» (Valsts nekustamo īpašumu aģentūra) that was founded on 17th May, 1996.

The sole shareholder of SRE (100 % of shares) is the Republic of Latvia, and the Ministry of Finance is the holder of the shares.

Professional and high-quality management and development of state real estate and provision of premises to the state institutions are the main functions of the company. These objectives are successfully reached because of experience the enterprise has accumulated throughout the years.

MISSION OF SRE:

  • Preservation and enhancement of value of the State real estate properties;
  • Managing and development or the real estate in the public interest;
  • Support in public functions in order to provide the necessary premises.

VISION OF SRE:

Become an industry expert and reliable government institution partner in management and sustainable development of the real estate.

THE KEY VALUES OF SRE are as follows:

  • PROFESSIONALITY;
  • ORIENTATION TO RESULTS;
  • RESPONSIBILITY;
  • OPENNESS;
  • TEAM WORK.

SJSC «State Real Estate» is the sole member of: 

  • “SRE Castles”, Ltd. (VNĪ pilis) that manages Mežotne Palace and Igate Manor and carries out commercial activities of restaurants and hotels; 
  • “Health Care Real Estate”, Ltd. (Veselības aprūpes nekustamie īpašumi) that strives to ensure effective administration, management, as well as construction of state real estate for needs of the health care system in accordance with the interests of the health care sector;
  • JSC "Office Complex Ezerparks" (Biroju Centrs Ezerparks), operation of which is aimed at managing real estate located at street Talejas 1, Riga, including development thereof by providing government institutions with premises suitable for implementation of the functions thereof, as well as retaining value of the real estate located at street Talejas 1, Riga, and improving the services provided.

LONGTERM OBJECTIVES OF SRE

The primary strategic objective of SRE is to ensure growth and development, as well as increase return from the shareholders’ input. Also improvement of service quality and increase in customer satisfaction have been established by SRE as its strategic objectives. To reach the set objectives, SRE complies with the below STRATEGIC TARGETS that serve as guidelines for planning and implementing the tasks.

Market principle-based activity
SRE is not an institution of public administration. Both according to the status and the essence, SRE is a merchant that plans and organises its activity in compliance with the principles of commercial activity.

Customer and service orientation
Customers and the provided services should become the main guiding motif and dimension of the activity of SRE.

Separation between commercial activity and public functions
SRE executes various tasks delegated by the public administration, thus, considering the activity indicators of SRE, it is important to separate the public functions and commercial activity.

Observance of public interests, preservation of cultural and historical values
According to the mission of SRE, it observes in its activity interests of the entire society and ensures preservation of cultural and historical values of real estate. Although this principle in certain cases may contradict commercial objectives of the activity, still interests of the society and preservation of cultural and historical values of the real estate are a priority.