State Real Estate (SRE) and the Ministry of Finance invite investors, representatives of financial institutions, and construction industry professionals to participate in the Investor Day for Bundle 1 of the Public-Private Partnership (PPP) Programme on June 9, 2026. The event will take place at the State Office Building, 1 Talejas Street, Riga.
The Latvian government has approved a national affordable housing development program, which envisages the construction of 1,290 energy-efficient housing units by 2030 across six municipalities – Riga, Tukums, Jēkabpils, Cēsis, Gulbene, and Daugavpils. The project uses an availability-based PPP model (DBFMO – Design, Build, Finance, Maintain, Operate). This is one of the first large-scale housing PPP projects in the Baltics, offering a clear structure and measurable social impact. Video summary of the PPP program: https://www.youtube.com/watch?v=Gxoo-UMPVG8&t=149s.
Investor Day Program:
- Time: Registration from 9:30 AM (EET)
- Venue: 1 Talejas Street, Riga, Conference Hall (1st floor)
- Language: English (with simultaneous translation into Latvian)
- Registration: The event is closed, for registered participants only. Please register by June 5, 2026, by filling out the registration form.
- Remote Access: Participants will have the option to join the event via live stream upon registration.
What to Expect
During the Investor Day, detailed information will be provided regarding:
- Programme objectives and policy rationale;
- PPP programme structure, including financial and legal aspects;
- Technical parameters of the project and the procurement timeline;
- Opportunities to meet the Minister of Finance Arvils Ašeradens, SRE leadership, EIB representatives and the heads of municipalities involved in Bundle 1.
Agenda
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Time (EET)
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Topic
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Speaker
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09:30
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Registration
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10:00
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Opening Address and Objective
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Arvils Ašeradens, Minister of Finance of the Republic of Latvia
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10:10
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Address by the EIB Representative
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European Investment Bank representative
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10:15
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Significance of the Project in the Industry Context
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Renārs Griškevičs, Chairman of the Board, SRE
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10:20
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Project Structure
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Inga Pole, PPP Housing Program Manager
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11:00
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Financial Parameters and Questions
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Project Team
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12:00
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Legal Parameters and Questions
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Project Team
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13:00
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Technical and Execution Parameters
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Project Team
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13:40
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Conclusion and Next Steps
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Renārs Griškevičs, Chairman of the Board, SRE
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About the Project
At the beginning of this year, SRE and six municipalities signed agreements for joint participation in Bundle 1 of the PPP program "Affordable Housing for Latvian Specialists". These agreements specify the construction of 1,290 apartments:
- Tukums: 150 apartments (Smilšu street);
- Jēkabpils: 140 apartments (Celtnieku street);
- Cēsis: 100 apartments (Festivāla street);
- Gulbene: 48 apartments (Malienas street);
- Daugavpils: 120 apartments (Nometņu street 103);
- Riga: 732 apartments (Tīnūžu, Mežrozīšu, and Ozolciema streets).
The municipalities have authorized SRE to initiate and conduct the procurement procedure for a private partner. The procurement is planned to be announced in the autumn of 2026, to attract a private partner for an availability based payment PPP contract with an expected term of 27 years. The private partner will ensure housing availability under the DBFMO approach, while state support will ensure that rent remains affordable and aligned with average income levels in the respective regions. Throughout the project and after its completion, the buildings and land will remain in municipal ownership.
SRE is also working on the preparation of Bundle 2 in cooperation with consultants from the Council of Europe Development Bank (CEB). In Bundle 2 of the program, the development of housing construction in 14 cities is assessed: Sigulda, Rēzekne, Kuldīga, Olaine, Ķekava, Smiltene, Aizkraukle, Alūksne, Jelgava, Liepāja, Ventspils, Riga, Gulbene, and Līvāni. The program is implemented in close cooperation with experts from the EIB and CEB.
Further information is available on the SRE website: https://www.vni.lv/en/projects/affordable-housing-for-latvian-professionals.
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About SRE
State Real Estate (SRE) currently manages 30 significant development projects with total investments of 316.7 million euros. SRE provides professional real estate management for 411 properties consisting of 1,096 buildings (968,000 m2) and 860 hectares of land. In 2024, SRE received the Platinum award in the "Sustainability Index" for the fourth time. The company was founded in 1996 and is 100% owned by the Ministry of Finance.
Contact Information
For the PPP Program: Inga Pole, PPP Housing Program Manager, email: vadibasgrupa.ppp@vni.lv.
For the Media: SRE Corporate Communications and Sustainability Department: Tel. +371 20235301; komunikacija@vni.lv.
