Riigi Kinnisvara AS is a real estate development and management company established for the efficient management of state real estate in 2001. The company is 100% owned by the Republic of Estonia and its shares are controlled by the Ministry of Finance. The amount of the company's share capital is 238,621,000 euros. We provide services mainly to state authorities and providers of public services. More than 230 people work in our offices in Tallinn, Tartu, Pärnu and Jõhvi.
Riigi Kinnisvara AS serves the following objectives established by the sole shareholder.
- Be the centre of excellence of state authorities for the provision of the real estate environment and real estate services.
- Centralise and optimise real estate used by the state and the expenses related thereto.
- Develop the company and the state's real estate competence while being a strategic partner for the Ministry of Finance.
- Work together with the private sector to ensure the best solutions for state authorities within the market competition.
RKAS provides real estate services to exercisers of state authority.
RKAS is the preferred partner and centre of excellence for the Government and state authorities in the development, management and maintenance of real estate objects necessary for the performance of state functions and provision of public service.
The implementing role of RKAS in state seal estate management has expanded compared to its original purposes (office buildings) and now includes:
- buildings and facilities intended for special purposes;
With regard to that, additional legislative securities shall be established for the company to operate in the judicial area of the European Union (operate in the market and in the conditions of competition).
According to the strategy of the state's real estate activities (2007), RKAS will be transformed into a state company operating under the specific provisions of the State Assets Act (transformation 2009).
Regardless of the transformation, the motive of the commercial association to operate in the framework of the given limits as efficiently as possible and the opportunity to get foreign capital on favourable terms and conditions shall be preserved.
RKAS does not offer direct development and maintenance services to users, but arranges the purchase thereof. Until this is economically more efficient, all the required services shall be purchased from the private sector.
Due to the current financial goals of the company, the real estate projects carried out by RKAS proceed from the market conditions and the return on equity corresponding there to.
Functional structure of organisation of state real estate