Renovation of State immovable property

Procedure for state immovable property renovation

SE “Turto bankas” (Bank of Property) while executing the List of Renewable State-Owned Immovable Property according to the Decree No. 1453 of the Government of the Republic of Lithuania of 23-12-2014 “Regarding the Amendment of “the Approval of the List of Renewable State-Owned Immovable Property” (hereinafter – Renovation List),   SE “Turto bankas” have concluded agreements with 19 institutions regarding the renovation of state immovable property and, accordingly, carries out the functions of a contract giver for the construction of new and reconstruction of objects and performs fund-provider functions for the objects, the contract giver functions of whose construction/reconstruction had not been transferred.   Following the provisions laid down in Article 18 of the Law on the Management, Use and Disposal of State and Municipal Assets (as amended on 01-10-2014), new objects of state immovable property will not be entered in the Renovation List and this method of renovation of state immovable property will no longer be applied after the implementation of the projects currently contained in the mentioned list. The mentioned renovation projects will be completed following the provisions of the Description of Procedures for Drawing up the Renovation List, approved by the Decree No. 328 of the Government of the Republic of Lithuania of 28 March 2007 (amended by the Decree No. 1022 of the Government of the Republic of Lithuania of 29 September 2014).

After the entry into force of the Law on the Manager of Centrally Managed State Assets (hereinafter – CMSA), which optimized the institutional structure of state immovable property management and introduced the model of centralised management of state immovable property, based on the progressive implementation of the principle of state immovable property lease, the centralised system of ownership transfer of state immovable property was established. In order to renovate CMSA the provisions of the Description of the Procedures for the Centralised Management, Use, and Disposal of State Immovable Property and Acquisition of New State Immovable Property Intended for Administrative Purpose, approved by the Decree No. 148 of the Government of the Republic of Lithuania on 11 February 2015, shall be followed. SE “Turto bankas”, as the manager of CMSA, performing centralised management and maintenance of state immovable property, executes further renovations (modernisations) of state immovable property and CMSA.

Completed projects

Ongoing and planned projects


© VĮ Turto bankas, 2017

Kęstučio g. 45, LT-08124
Vilnius, Lithuania
Phone (+370 5) 278 0900
Fax (+370 5) 275 1155

Vilniaus g. 16, LT-01402
Vilnius, Lithuania
Phone (+370 5) 268 4999

Email: info@turtas.lt
Company No: 112021042
VAT No: LT120210411

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