Galerija Centrs, located in the Old Town of Riga, and one of the properties in the Baltic Horizon Fund, is the first shopping center in Latvia that has obtained the SAFE RetailDestination© certificate. It received the designation from the only internationally acknowledged resilience certification program for shopping centers (SAFE Shopping Centers). The Covid-19 compliance certificate is a proof of the centers’ high standards and commitment to delivering the best possible safety for visitors, retailers and employees alike.

Tarmo Karotam, Fund manager of Baltic Horizon notes: ”Our target was to make sure once again that we did our best to make our customers, visitors and staff at the center to feel safe as possible. The COVID-19 compliance certificate confirms that we take the health of people very seriously.”

In order to receive the certificate, shopping center administration needed to follow the requirements to ensure safe shopping for its customers and visitors, as well for the work environment in Galerija Centrs even at higher standards compared to the average practice. “We implemented all the requirements in terms of cleaning, disinfecting surfaces and ventilation, as well as other safety measures recommended in the certification program. Additional disinfection points and information was placed on all floors, service premises and delivery area; tenants were trained about the issues and risks to be considered and applied in order to reduce the spread of COVID-19”, says Katre Plaan, Portfolio manager at Baltic Horizon.

Certification is based on the Risk, Resilience and Security Standard©. It is divided in six core areas, containing more than 850 criteria, designed to cover all aspects of operational risk in shopping center management. The initial assessment will be also followed by two annual compliance verifications.

Additional information:  

Tarmo Karotam
Baltic Horizon Fund manager

The Fund is a registered contractual public closed-end real estate fund that is managed by Alternative Investment Fund Manager license holder Northern Horizon Capital AS. Both the Fund and the Management Company are supervised by the Estonian Financial Supervision Authority.

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