About the company

SJSC “State Real Estate” (SRE) is the largest manager of Latvia’s greatest assets – land and buildings. Land and cultural heritage, old and modern buildings, state border and customs infrastructure – all of these are national treasures for the people of Latvia.

Our vision is a modern and efficient working environment for public administration. The public sector today is aware of the importance of working efficiently, and this also applies to the use of real estate. The private sector in Latvia keeps pace with the times and respects people's wishes to work in modern offices – in a working environment that matches their values. We aim to offer the same in the public administration environment as well.

Based on the assessment of the current and future needs of customers and taking into account the overall purpose of SRE, the customer offer and related services are divided into four categories: offices; infrastructure objects of strategic importance for the state; cultural and historical heritage; unmarketable, encumbered and unrealisable assets.

The main focus of the company is its customers, for whom SRE offers valuable properties for sustainable operations. SRE directly serves public and private sector customers. Our goal is the satisfaction of our customers, who receive relevant and straightforward service and therefore recommend SRE as a service provider to others.

The priority of SRE is the long-term ability to operate in a changing external environment, to be a competitive, well-managed company and to be able to anticipate and seize the opportunities created by future changes. This means constantly improving the efficiency of the company's operations by improving and digitising the core and support processes, as well as implementing sustainability as a benchmark in decision-making processes. The basis and pillar of SRE’s strategy are the competent, motivated employees who work with passion and dedication.

Mission

To be a caring owner who preserves and increases the value of the state real estate.

Vision

A smart environment for the general public and modern public administration.

Values

Openess

Our business processes are transparent and we are dynamically evolving to strengthen the future competitiveness at the national, industry and company level. We solve problems openly and explain them to the public. We are open to initiatives by the customers, the general public and employees.

Competence

We are experts and share our knowledge. We offer smart solutions to achieve our customers' goals. We take responsibility for our decisions and achieving our goals.

Cooperation

We build long-term cooperation with our customers, the general public and employees based on mutual trust, keeping promises and openness towards each other. We choose simple, straightforward and convenient ways of communication and cooperation.

Safety

We care about the safety of our employees and society in general. We believe that everyone has the right to come home safely after work. We have set high standards of safety and are creating a safe environment in our offices, construction sites and managed properties. This also applies to the construction of objects of public importance. We are striving for a zero accident culture.

Health

Our employees are our greatest asset, and this is why their health is so important to us. Ergonomic workplaces, smart safety measures, flexible working hours – we do everything possible to minimise the risk of accidents, to prevent occupational diseases and to give people time to take care of their health.

Business directions

Real estate management – SRE ensures that the real estate is maintained in proper order and suitable for the needs of public institutions, leases and manages properties and hires service providers as necessary.

Real estate development management – SRE ensures the development of all real estate projects, from the identification of the customers’ needs, preparing possible development scenarios and the required financial calculations to hiring contractors and ensuring construction supervision.

Execution of functions delegated by the state – SRE also ensures that the state-owned real estate is properly used, registered and dealt with.

Financial statements

Unaudited interim report for 12 months of 2020 (LV)

Audited annual report for 2020 (ENG)

Unaudited condensed interim report for nine months of 2020 (LV)

Unaudited condensed interim report for six months of 2020 (LV)

Unaudited condensed interim report for three months of 2020 (LV)

Audited 2019 annual report (LV)

Unaudited interim report for 12 months of 2019 (LV)

Unaudited condensed interim report for nine months of 2019 (LV)

Unaudited condensed interim report for six months of 2019 (LV)

Unaudited condensed interim report for three months of 2019 (LV)

Audited 2018 annual report (LV)

Unaudited interim report for 12 months of 2018 (LV)

Unaudited interim report for nine months of 2018 (LV)

Unaudited interim report for six months of 2018 (LV)

Unaudited interim report for three months of 2018 (LV)

Audited 2017 annual report

Unaudited interim report for 12 months of 2017 (LV)

Unaudited interim report for nine months of 2017 (LV)

Unaudited interim report for six months of 2017 (LV)

Unaudited interim report for three months of 2017 (LV)

History of the Company

The operation of SRE started with the takeover of the rights, obligations, functions, property and financial resources of the state joint-stock company “State Real Estate Agency” established on 17 May 1996.

1994 - On the basis of the State Enterprise Department of the Ministry of Finance and the State Economy Department, the state institution “State Property Fund” was established.

1996 - On the basis of the liquidated state institution “State Property Fund”, the state joint-stock company “State Real Estate Agency” was established.

1997 - SIA “Mežotnes pils” was founded (SRE - 100% share owner).

1998 - SIA “Igates pils” was founded (SRE - 100% share owner).

2004 - The name of the Company was changed – State Joint-Stock Company “State Real Estate”.

2007 - SIA “Biznesa centrs Zaķusala” was established (SRE - owner of 5% shares, in 2009 after the increase of the share capital, when SRE did not exercise the pre-emptive right, the impact decreased to 3.13%).

2008 - As a result of reorganisation, SJSC “Diplomātiskais serviss” (former SJSC “Diplomātiskā servisa aģentūra”) was added, thus SRE instead of SJSC “Diplomātiskais serviss” became a member of SIA “Diplomātiskā servisa medicīnas centrs” (SRE - 49.55% shareholder).

SIA “Biroju Centrs Ezerparks” was established (SRE - owner of 31.5% shares).
SIA “Veselības apdrošināšanas nekustamie īpašumi” was established (SRE - 100% share owner).

The name of SIA “Mežotnes pils” was changed to SIA “VNĪ pilis” (SRE- owner of 100% shares).

2009 - As a result of reorganisation, the SJSC “NAMS-FM” was added.

2010 - The operation of SIA “VNĪ Investīcijas” (formerly SIA “Igates pils”) was terminated.

2011 - 3.13% of the shares of SIA “Biznesa centrs Zaķusala” owned by SRE were disposed of; 49.55% of the shares of SIA “Diplomātiskā servisa medicīnas centrs” owned by SRE were disposed of.

2015 - Changes were made in the share structure of SIA “Biroju Centrs Ezerparks”, SRE became the owner of 100% of shares.

2016 - In accordance with the OECD recommendations for the State of Latvia and the decision of the SRE shareholders' meeting, the Council of SRE was appointed.

The operation of SIA “Veselības aprūpes nekustamie īpašumi” was terminated.

2017 - The operation of SIA “Biroju Centrs Ezerparks” and SIA “VNĪ pilis” was terminated.

The new Board of SRE begins its work, the company's medium-term operating strategy for 2018-2022 was prepared.

2018 - Approved medium-term operating strategy for 2018 - 2022, SRE became a customer-orientated company.

2019 - SRE moved to a new work environment model and moved to an activity-based office at Talejas iela 1.

Non-financial reporting was started, the first Sustainability Report of the SRE was prepared.