The project of Vilnius Congress Centre (VCC) is implemented by State Enterprise (SE) Turto bankas, which is the manager of the state-owned real property. The project of VCC is implemented by the resolution of the Government which has recognized it as the project of state importance.
The enterprise has been operating since 1996 when it was established by the decisions of the Seimas and the Government as a management company of non-profit-making assets. In order to centralize the management of the state-owned real property, on 1 October 2014, SE State Property Fund (Valstybės Turto Fondas), that was undergoing reorganization, was connected to SE Turto bankas, which, after the reorganization, continues its activities, in taking over all the assets, rights and obligations of the State Property Fund.
Today, the main areas of activity of SE Turto bankas are: centralized management of the state-owned real property, privatization of state-owned shares and of shares owned by municipality, recovery of debts in favor of the state, and performance of loans, state guarantees and other property obligations transferred under assignment agreements.
In implementing centralized management of the state-owned real property, SE Turto bankas manages, uses and disposes of the state-owned real property that was transferred for management under the trust right, organizes auctions for the sale of the state property that is no longer required, implements works of modernization and renovation of the state-owned buildings, performs the functions of the manager of the State Property Information Search System and performs other functions assigned by legislation.