The objectives of the project are:

  • To evaluate the effectiveness of the distribution of the UL real estate portfolio into groups according to the purposes of their use, taking into account the grouping principles set out in the Real Estate Development Guidelines of the University of Latvia,
  • Develop a number of development scenarios for properties owned by UL which are not necessary for carrying out the core activity, identifying the best use alternative as a result of the calculations.
  • Preparing medium / long-term cash flow forecasts (including sales of properties) from operations with real estate over time and assessing their adequacy to finance the UL development projects.
  • Assess the need and economic justification for investments in profit or income centres as defined in the UL Development Plan.

When planning the earliest possible timeline for the sale of properties, calculating the impact of the alienation of properties on the cash flow of UL's operational activities and offering the best use of property, the calculation are based on the following assumptions:

  • The House of Letters will operational in 2023;
  • An in-depth analysis is not carried out for properties which are not owned by UL, properties used to provide the core activities of UL and relatively small properties located outside Riga.

A forecast of financial flows was created for each of the properties on the basis of assumptions according to the situation of each property.

In order to ensure a clear vision for the development of student dormitories, the UL Infrastructure Department, in cooperation with AC development programme experts, developed a plan for the development of dormitories of the University of Latvia.

The Student dormitories development plan includes:

  • Analysis of the current situation with Student dormitories
  • An analysis of Student dormitories operational activities and an action plan to improve it
  • Price policy in renovated dormitories
  • Concept of renewed student accommodation (privacy, facilities, access to services)
  • Detailed scenarios for refurbishment of dormitories