As of December, 3 the Forum Cinemas at Coca Cola Plaza centre is closed for upgrade and ergonomic improvement. It has been decided to use the time of restriction for attending cultural events set by Covid19 pandemic and the fact that there are in fact are no bright film premieres to improve the technical capabilities of the cinema and the comfort of visitors.
”In order to make the cinema accessible to as many visitors as possible without violating security standards, we have provided customers with the opportunity to purchase one-time Covid tests at a lower price just before the screening. This approach and the release of the two-year-old James Bond film ”No Time to Die” helped us to get off to a good start in the autumn and gave us confidence that the cinema industry has a bright future,” says Kristjan Kongo, CEO of the Forum Cinemas.
Coca-Cola Plaza is the the first entertainment complex in Estonia that is built just for movie screenings. Due to the restrictions imposed by Covid19 in Estonia, the cinema operations have been suspended for several months, but since June it has been operating in the so-called safe mode. At the same time, the cinema industry has undergone many changes, both in introducing newer technologies and in offering new comfort experiences to viewers. During these 20 years, the Forum Cinemas at Coca Cola Plaza center has also been gradually improved.
“Coca Cola Plaza is a famous investment in the fund’s portfolio with considerable long-term potential. Its location in the very heart of Tallinn obliges it to be a modern and up-to-date cinema that provides highest aesthetic and artistic enjoyment for the visitors. The tenant’s decision to invest and raise the cinema halls to a whole new level demonstrates strong understanding and confidence that large screen cinemas remain important entertainment venues also in the future and all of us hope that the restrictions are lifted as soon as possible, especially for children”, emphasizes Tarmo Karotam, Fund manager of Baltic Horizon Fund.
The cinema is closed for improvements from 3 December. Cinema-goers with a lot of new films in the renovated cinema halls, where there will be even better sound and image, will be welcomed again back in cinema latest at the end of the year with multiple movie premieres like Matrix, Resident Evil and Kingsman will be screened just after the reopening.
Baltic Horizon Fund is a listed real estate fund that specializes in commercial real estate in the Baltic capitals. The fund has a solid track record of investing in and operating retail properties and office buildings. The fund holds a portfolio of 14 properties in Tallinn, Riga and Vilnius worth over 315.5 million EUR. Baltic Horizon Fund is listed on the stock exchanges in Tallinn and Stockholm. The Fund is an evergreen regulated closed-end contractual investment fund registered in Estonia and managed by Northern Horizon.
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Communications consultant, In Nomine
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Chairperson of the Board, Baltic Horizon Fund,