State-owned Joint Stock Company “Valsts nekustamie īpašumi” (State Real Estate, VNĪ) will develop an activity-based office for the State Audit Office of Latvia at 26 Krišjāņa Valdemāra Street, Riga. The move to the new premises will allow for a 58% reduction in the used space, allowing for financial savings while providing employees with suitable premises and a modern working environment.
“The team of State Audit Office of Latvia and VNĪ specialists have created a common vision for office premises suitable for the dynamic development and work rhythm of the State Audit Office of Latvia. These will be both modern premises and allow for rationalising the amount of space required for the work of the State Audit Office of Latvia and achieving significant financial savings for the state budget. It is particularly satisfying to be able to continue working in the historical premises of the State Audit Office of Latvia, where our institution once began its work for the benefit of Latvia in 1923,” emphasised Auditor General Edgars Korčagins.
“Management and efficient maintenance of real estate is among the tasks of VNĪ by providing state institutions with premises suitable for the implementation of their functions and effective action with unused real estate of public sector institutions. By adapting the free premises of the real estate under management of this state-owned enterprise to the needs of the State Audit Office of Latvia and its 180 employees, we provide another state institution with suitable and modern premises and prevent losses that occurred when we abandoned the plan to move other state institutions to these premises,” stated Mr Andris Vārna, Board Member of VNĪ.
Currently, the State Audit Office of Latvia leases premises with an area of 3,846.9 m2 at 50 Skanstes Street, Riga. By moving to adapted and activity-based office premises at 26 Krišjāņa Valdemāra Street, Riga (1st floor (part), 3rd, 4th, 5th floors), the space of the used premises will be reduced by 58%, or the new space of the leased premises will be 1,606.5 m2. The optimisation of the premises will also allow saving state budget funds by redirecting them to other needs. The reconstruction and adaptation work will be financed from the funds obtained from the appropriation of other real estate owned by VNĪ. One plans to complete the adaptation for the needs of the State Audit Office of Latvia by 1 February 2027. Along with the move of the State Audit Office of Latvia to the new premises, another modern state office building will be created, which will house several state institutions in one place by promoting cooperation among various institutions.
The strategy of VNĪ states that it must increase the proportion of valuable and actively used properties in the managed real estate portfolio by reducing the proportion of worthless and unnecessary properties for ensuring public sector functions. For full-fledged property management, all properties managed and owned by the state-owned enterprise are divided into three portfolios at the time of their takeover, that is, core portfolio (71%), asset portfolio (13%), and appropriation portfolio (16%). The core portfolio contains properties used by state institutions, which are in good and satisfactory technical condition, and can be leased effectively, developed and modernized purposefully.
About the State Audit Office of Latvia
The State Audit Office of the Republic of Latvia is an independent, collegial supreme audit institution. The purpose of its activity is to find out whether the actions with the financial means and property of a public entity are legal, correct, useful and in line with public interests, as well as to provide recommendations for the elimination of discovered irregularities. The State Audit Office conducts audits in accordance with International Standards of Supreme Audit Institutions of the International Organization of Supreme Audit Institutions INTOSAI (ISSAI), whose recognition in Latvia is determined by the Auditor General. Upon discovering deficiencies, the State Audit Office of Latvia provides recommendations for their elimination, but it informs law enforcement authorities about potential infringements of the law.
Additional information
Ms Gunta Krevica
Head of PR and Internal Communication Division
Ph. 23282332 | E-mail: Gunta.Krevica@lrvk.gov.lv