sv, Senatfastigheter , logo = Senate logo.gif , type = Liikelaitos Senate Properties 2009

(Finnish). (≈ unincorporated entity, unincorporated state-owned enterprise) Ministry of Finance 2009. Senate Properties 2009

/ref> , genre = , fate = , predecessor = State Real Property Agency (1995 to 1999) Senate Properties 2009

/ref>
National Board of Public Building (until 1995) , successor = , foundation =

Helsinki Helsinki ( or ; ; sv, Helsingfors, ) is the capital, primate, and most populous city of Finland. Located on the shore of the Gulf of Finland, it is the seat of the region of Uusimaa in southern Finland, and has a population of . The city ...

Finland Finland ( fi, Suomi ; sv, Finland ), officially the Republic of Finland (; ), is a Nordic country in Northern Europe. It shares land borders with Sweden to the northwest, Norway to the north, and Russia to the east, with the Gulf of B ...

(1999) , founder =

Government of Finland sv, Finlands statsråd , border = , image = File:Finnish Government logo.png , image_size = 250 , caption = , date = , state = Republic of Finland , polity = , coun ...

, defunct = , location_city =

, location_country =

Senate Properties 2009

/ref> , location = , locations = , area_served =

Republic of Finland Finland ( fi, Suomi ; sv, Finland ), officially the Republic of Finland (; ), is a Nordic country in Northern Europe. It shares land borders with Sweden to the northwest, Norway to the north, and Russia to the east, with the Gulf of B ...

, key_people = Aulis Kohvakka (

Managing Director A chief executive officer (CEO), also known as a central executive officer (CEO), chief administrator officer (CAO) or just chief executive (CE), is one of a number of corporate executives charged with the management of an organization especially ...

) Senate Properties 2009

/ref> , industry =

Real estate Real estate is property consisting of land and the buildings on it, along with its natural resources such as crops, minerals or water; immovable property of this nature; an interest vested in this (also) an item of real property, (more general ...

, products = , production = , services = , revenue = 677 million

EUR The euro ( symbol: €; code: EUR) is the official currency of 19 out of the member states of the European Union (EU). This group of states is known as the eurozone or, officially, the euro area, and includes about 340 million citizens ...

(2008) 5% from 2007 Senate Properties Annual Report 2008, p. 20. , operating_income = 220 million

(2008) 6% from 2007 , net_income = 105 million

(2008) 14% from 2007 , aum = , assets = 5 857 million

(2008) 3% from 2007 Senate Properties Annual Report 2008, p. 22. , equity = 3 404 million

(2008) steady from 2007 , owner = Republic of Finland (100%) , num_employees = 277 (2008) Senate Properties Annual Report 2008, p. 4. , parent = , divisions = , subsid = , homepage
www.senaatti.fi
, footnotes = Senate Properties (in fi, Senaatti-kiinteistöt, in sv, Senatfastigheter) is a

Finnish Finnish may refer to: * Something or someone from, or related to Finland * Culture of Finland * Finnish people or Finns, the primary ethnic group in Finland * Finnish language, the national language of the Finnish people * Finnish cuisine See also ...

unincorporated entity, unincorporated state-owned enterprise, which manages a major part of the

real estate Real estate is property consisting of land and the buildings on it, along with its natural resources such as crops, minerals or water; immovable property of this nature; an interest vested in this (also) an item of real property, (more general ...

assets owned by the

History

Senate Properties descends from the ''Office of the Intendant'' (corresponding names in

and

Swedish Swedish or ' may refer to: Anything from or related to Sweden, a country in Northern Europe. Or, specifically: * Swedish language, a North Germanic language spoken primarily in Sweden and Finland ** Swedish alphabet, the official alphabet used by ...

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 Facility management or facilities management (FM) is a professional management discipline focused on the efficient and effective delivery of logistics and other support services related to real property and buildings. It encompasses multiple disc ...

operations were incorporated into ''Engel kiinteistöpalveluyhtymä Oy'', National Audit Office of Finland 2005, p. 13. which was fully

privatized Privatization (also privatisation in British English) can mean several different things, most commonly referring to moving something from the public sector into the private sector. It is also sometimes used as a synonym for deregulation when ...

in 2004, the buyer being

ISS A/S ISS A/S (International Service System) is a facility management services company founded in Copenhagen, Denmark in 1901. ISS's core services include: security, cleaning, technical, food and workplace. The ISS Group’s revenue amounted to DKK 69.8 ...

. Ministry of Finance 2004. 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 Billion is a word for a large number, and it has two distinct definitions: *1,000,000,000, i.e. one thousand million, or (ten to the ninth power), as defined on the short scale. This is its only current meaning in English. * 1,000,000,000,000, i. ...

EUR was transferred from various government-owned companies and government agencies — including the State Real Property Agency — and incorporated into ''Kapiteeli Oy''. Julin 2006. 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

in September 2006. Tekniikka & Talous 2006. The single buyer, ''Sponda Oyj'', paid 950 million

for 100% of Kapiteeli's stock. Also on 1 January 1999, the State Real Property Agency was transformed from being a government agency into being an unincorporated state-owned enterprise. Parliament of Finland 1998 During the same year, several culturally significant properties were transferred to the State Real Property Agency, including the

Ateneum Ateneum is an art museum in Helsinki, Finland and one of the three museums forming the Finnish National Gallery. It is located in the centre of Helsinki on the south side of Rautatientori square close to Helsinki Central railway station. It ha ...

Kiasma ) , established = (Museum of Contemporary Art) (opening of Kiasma building) , dissolved = , location = Helsinki, Finland , type = Art museum , accreditation = , key_holdings = , co ...

, and the Finnish National Opera Building. On March 1, 2001, the name of the State Real Property Agency was changed to ''Senate Properties''. Ministry of Finance 2000. The name-change required a change in law because the State Real Property Agency was a state enterprise under

public law, and such entities could not change their name via registration as in the

private sector The private sector is the part of the economy, sometimes referred to as the citizen sector, which is owned by private groups, usually as a means of establishment for profit or non profit, rather than being owned by the government. Employment The ...

. The purpose with the name-change was to improve the

corporate image A corporate identity or corporate image is the manner in which a corporation, firm or business enterprise presents itself to the public (such as customers and investors as well as employees). The corporate identity is typically visualized by ...

by having a name reflecting both traditions and modern business philosophy. The new name also refers to the

Helsinki Senate Square The Senate Square ( fi, Senaatintori, sv, Senatstorget) presents Carl Ludvig Engel's architecture as a unique allegory of political, religious, scientific and commercial powers in the centre of Helsinki, Finland. Senate Square and its surrounding ...

, where several nearby buildings are managed by Senate Properties.

Legal status

Senate Properties is an unincorporated, fully state-owned enterprise ( fi, Liikelaitos). It is unincorporated in the sense that Senate Properties is ''not'' a

legal person In law, a legal person is any person or 'thing' (less ambiguously, any legal entity) that can do the things a human person is usually able to do in law – such as enter into contracts, sue and be sued, own property, and so on. The reason for ...

separate from the State, and compared to incorporated companies, the organization has limited jurisdiction over its activities. European Commission 2006, p. 4. Finnish government organizations of this type are governed by the ''Unincorporated State Enterprise Act of 2002''
Laki Valtion Liikelaitoksista (in Finnish)
. Parliament of Finland 2002.

Finance

At the end of 2008, the

Finnish government sv, Finlands statsråd , border = , image = File:Finnish Government logo.png , image_size = 250 , caption = , date = , state = Republic of Finland , polity = , cou ...

held

asset In financial accounting, an asset is any resource owned or controlled by a business or an economic entity. It is anything (tangible or intangible) that can be used to produce positive economic value. Assets represent value of ownership that can ...

s totaling 51.5

. Ministry of Finance 2007, p. 140. Of these assets, 3.8 billion were held in Senate Properties; consisting of 2.6 billion EUR as

equity capital In finance, equity is ownership of assets that may have debts or other liabilities attached to them. Equity is measured for accounting purposes by subtracting liabilities from the value of the assets. For example, if someone owns a car worth $ ...

, and 1.2 billion as long-term

loan In finance, a loan is the lending of money by one or more individuals, organizations, or other entities to other individuals, organizations, etc. The recipient (i.e., the borrower) incurs a debt and is usually liable to pay interest on that ...

s. In addition to the equity capital and loans by the Finnish government, Senate Properties had 0.8 billion in

retained earnings The retained earnings (also known as plowback) of a corporation is the accumulated net income of the corporation that is retained by the corporation at a particular point of time, such as at the end of the reporting period. At the end of that peri ...

, and external financing amounting to 1.2 billion from

financial institution Financial institutions, sometimes called banking institutions, are business entities that provide services as intermediaries for different types of financial monetary transactions. Broadly speaking, there are three major types of financial inst ...

s. Its

balance sheet In financial accounting, a balance sheet (also known as statement of financial position or statement of financial condition) is a summary of the financial balances of an individual or organization, whether it be a sole proprietorship, a Partnersh ...

totaled 5.9 billion at the end of 2008.

Development projects

* Large state office building in

Hakaniemi Hakaniemi (; sv, Hagnäs) is an unofficial district of Helsinki, the Finnish capital. It covers most of the neighbourhood of Siltasaari in the district of Kallio. Hakaniemi is located at the sea shore and is separated from the city centre by the ...

. Helsingin Sanomat 2008. * Töölönlahti land areas. Helsingin Sanomat 2009.

General information

In 2007, Senate Properties was — out of 29 large

companies — recognized as Finland's top reporter of issues related to the environment and to corporate social responsibility. Finnish Business & Society 2007.

Gallery of buildings

File:Valtioneuvoston linna 2.jpg, The Government Palace (Finland), Government Palace near the Senate Square. File:Kesaranta Helsinki.jpg,

Kesäranta Kesäranta (, ) is the official residence of the Prime Minister of Finland, located in Helsinki in the neighborhood of Meilahti, overlooking Seurasaarenselkä. The residence is owned by the Finnish Government through Senate Properties. The Meil ...

, the

official residence An official residence is the residence of a head of state, head of government, governor, religious leader, leaders of international organizations, or other senior figure. It may be the same place where they conduct their work-related functions. ...

of the

Prime Minister of Finland The prime minister of Finland ( fi, Suomen pääministeri; ) is the leader of the Finnish Government. The prime minister and their cabinet exercise executive authority in the state. The prime minister is formally Finnish order of precedence, r ...

, in

Meilahti Meilahti (in Swedish Mejlans) is a neighbourhood of Helsinki between Mannerheimintie (the main entrance road to Helsinki) and a bay named Seurasaarenselkä. Most of the houses in Meilahti were built in the 1930s and 1940s. Meilahti is home to ove ...

. File:Helsingin musiikkitalo 24.5.2009.jpg, Construction of the Helsinki Music Center. File:Kiasmamodernartmuseum.JPG, The contemporary art museum

Kiasma ) , established = (Museum of Contemporary Art) (opening of Kiasma building) , dissolved = , location = Helsinki, Finland , type = Art museum , accreditation = , key_holdings = , co ...

Mannerheimintie Mannerheimintie ( sv, Mannerheimvägen), named after the Finnish military leader and statesman Carl Gustaf Emil Mannerheim, is the main street and boulevard of Helsinki, Finland. It was originally named Heikinkatu ( sv, Henriksgatan), after Rob ...

. File:Supreme Court of Finland.jpg, The Supreme Court of Finland on Pohjoisesplanadi. File:VillaLante.JPG, The

Villa Lante al Gianicolo Villa Lante al Gianicolo is a villa in Rome on the Janiculum Hill (Gianicolo). It is a summer house designed by Giulio Romano in 1520-21 for Baldassare Turini, as one of Romano's first independent commissions after the death of his master Raph ...

Rome , established_title = Founded , established_date = 753 BC , founder = King Romulus (legendary) , image_map = Map of comune of Rome (metropolitan city of Capital Rome, region Lazio, Italy).svg , map_caption ...

Italy Italy ( it, Italia ), officially the Italian Republic, ) or the Republic of Italy, is a country in Southern Europe. It is located in the middle of the Mediterranean Sea, and its territory largely coincides with the homonymous geographical ...

. File:Kasarmikatu 24 Helsinki.jpg, The

Museum of Finnish Architecture The Museum of Finnish Architecture ( fi, Suomen arkkitehtuurimuseo, sv, Finlands arkitekturmuseum) is an architectural museum in Helsinki, Finland. Established in 1956, it is the second oldest museum of its kind (after the Shchusev Museum of Arc ...

. File:Designmuseo I Helsinki.jpg, The

Design Museum, Helsinki Design Museum ( fi, Designmuseo, sv, Designmuseet) is a museum in Helsinki devoted to the exhibition of both Finnish and foreign design, including industrial design, fashion, and graphic design. The building is situated in Kaartinkaupunki, on Kork ...

. File:Säätytalo (Helsinki), Ständerhuset (Helsinki), Maison des États (Helsinki), House of the Estates (Helsinki) 03.jpg, The House of the Estates. File:Finnish National Opera Helsinki 2016 02.jpg, The Finnish National Opera Building. File:Kakola-prison of Turku.jpg, Turku Central Prison — “''Kakola''” — defunct since 2007. File:Turun hovioikeus.jpg, The building of the Court of Appeal in

Turku Turku ( ; ; sv, Åbo, ) is a city and former capital on the southwest coast of Finland at the mouth of the Aura River, in the region of Finland Proper (''Varsinais-Suomi'') and the former Turku and Pori Province (''Turun ja Porin lääni''; ...

. File:Kuopion lääninhallitus 2017.jpg, The State Provincial Office of Kuopio File:Court of appeal in Vaasa.JPG, The building of the Court of Appeal in

Vaasa Vaasa (; sv, Vasa, , Sweden ), in the years 1855–1917 as Nikolainkaupunki ( sv, Nikolajstad; literally meaning "city of Nicholas),

Notes

References

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External links

Senate Properties
— Official website {{authority control Government-owned companies of Finland Real estate in Finland Sörnäinen