Jūratė’s Expertise in Baltic Real Estate
After finishing her studies in business, management, marketing and support services, Jūratė started her professional career in marketing. During her years working as Chief Marketing Officer at Ogmios Real Estate – a leading developer of shopping centres – Jūratė developed a deep understanding of the dynamics of retail marketing, sales, and psychology.
With my background in marketing, I have a commercial mindset, where the goal is to always keep the customer in focus and constantly strive to give customers the best experience.
Prior to joining the team who manages Baltic Horizon Fund, Jūratė worked for fifteen years in the Baltic commercial real estate industry for companies such as Newsec and CBRE, where she specialized in retail.
With over 10 years of experience as a shopping center manager, Jūratė brings diverse experience from shopping center expansions and refurbishments. She also has vast experience in leasing, tenant communication as well as business strategy, marketing and contract negotiations.
Gearing for the future development of retail
One of Jūratė’s greatest strengths is her ability to understand future trends and to spot the necessary needs for change. At the same time, she is hard working and extremely determined.
Jūratė joined Northern Horizon’s team during the post-corona period, which has been marked by dramatic changes in retail. As shutdowns kept people working, shopping, and studying online, retail e-commerce grew significantly, leading to predictions that physical shopping was a thing of the past. However, in the post-pandemic years, physical shopping has actually rebounded, albeit with significant shifts in customer habits.
With her finger on the pulse and a strong property management team by her side, Jūratė has guided this transformation of the fund’s three iconic shopping centers.
The overall goal has been to transform the buildings from shopping centers into modern social hubs where customers can connect with others and enjoy a unique shopping experience.
Galerija Centrs Burzma foodhall
The changes have already attracted many new brands to the assets. From fashion and lifestyle brands to cafés and restaurants, as well as entirely new types of tenants within the health, wellness and beauty segment.
Managing the transformation of a single building is a demanding task. Add two more buildings to the to-do list, along with the challenge of implementing ESG improvements, reducing energy consumption, and securing BREEAM certifications. This reflects Jūratė’s strategic oversight and her high energy.
Looking Ahead
Within commercial real estate, we see a development where office and retail increasingly focus on the same target groups such as health, services, entertainment.
In this development, it is crucial to renew existing buildings and develop clear concepts including supporting services to match the current as well as the future needs of potential tenants.
In the short term, Jūratė’s biggest task is leading the effort to achieve the fund’s strategic ambition of reaching over 90% portfolio occupancy by the end of 2024. The focus is particularly on the two office buildings, Upmalas Biroji and S27, and the two retail centers, Europa and Galerija Centrs.
In the longer term, supported by the team, Jūratė will continue to look for additional opportunities to maximize the value of each property and to keep up with ever-changing demands and needs of commercial real estate tenants.
