Senate Properties
 |
|
| Liikelaitos (≈ unincorporated state-owned enterprise) | |
| Industry | Real estate |
| Predecessor | State Real Property Agency (1995 to 1999) National Board of Public Building (until 1995) |
| Founded | Helsinki, Finland (1999) |
| Founder | Government of Finland |
| Headquarters | Helsinki, Finland |
|
Area served
|
Republic of Finland |
|
Key people
|
Aulis Kohvakka (Managing Director) |
| Revenue | 677 million EUR (2008)  5% from 2007 |
| 220 million EUR (2008) 6% from 2007 |
|
| Profit | 105 million EUR (2008) 14% from 2007 |
| Total assets | 5 857 million EUR (2008)  3% from 2007 |
| Total equity | 3 404 million EUR (2008)  steady from 2007 |
| Owner | Republic of Finland (100%) |
|
Number of employees
|
277 (2008) |
| Website | Senaatti.com |
Senate Properties (in Finnish: Senaatti-kiinteistöt, in Swedish: Senatfastigheter) is a Finnish unincorporated state-owned enterprise, which manages a major part of the real estate assets owned by the Republic of Finland.
Senate Properties descends from the Office of the Intendant (corresponding names in Finnish and Swedish are listed in the table below), established 3 September 1811, the goal of which was to supervise the planning of government buildings. In 1865, the name was changed to the Board of Public Buildings; and in 1936 to the National Board of Public Building. In 1995, the National Board of Public Building — which was a government agency managing state property — was dissolved. Facility management operations were incorporated into Engel kiinteistöpalveluyhtymä Oy, which was fully privatized in 2004, the buyer being ISS A/S. The majority of the state property assets were transferred into the newly formed State Real Property Agency. The purpose of this agency was to manage the state property which was deemed to be in permanent use.
On 1 January 1999, a heterogeneous collection of government real estate worth 1.3 billion EUR was transferred from various government-owned companies and government agencies — including the State Real Property Agency — and incorporated into Kapiteeli Oy. The transfer consisted of buildings deemed redundant from the government perspective. This included former school buildings, empty government buildings, railway stations fallen into disuse, and other buildings that were considered unnecessary for the government to own, such as post offices and hotels. Part of this property was developed and sold on the market between 1999 and 2006. Kapiteeli was privatized in September 2006. The single buyer, Sponda Oyj, paid 950 million EUR for 100% of Kapiteeli's .
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Wikipedia