• Pei Asset Management has assisted with and facilitated Pei obtention of the Biosafety Operations Seal for 12 of its portfolio assets. This achievement required the investments necessary to ensure compliance with all the protocols provided for by Resolution 666 of April 2020 .
  • A total of 24 properties are scheduled to be certified by the end of
  • Good practices in the implementation of Pei Asset Management’s protocols and measures have been shared and replicated in other of the vehicle’s assets.

Bogota D.C., November 2020. Pei, Colombia’s leading real estate investment vehicle, managed by Pei Asset Management, remains steadfast in its commitment to its fellow of Colombians’ well-being. Recently, 12 of its properties obtained Icontec’s Biosafety Operations Certification: Jardin Plaza Cali, Jardin Plaza Cúcuta, and Plaza Central shopping centers, as well as other assets of other categories such as: City U, Torre CCI, Atrio Torre Norte, Capital Towers, Element, Deloitte, Centro Empresarial Metropolitano, World Business Port Building, and QBE Central De Seguros.

It is particularly important to highlight that, the Colombian National Government, through Resolution 666 of April 2020, decided “to adopt the general biosafety protocol for all economic and social activities and sectors of the public administration.” Thus, from June 1st, 2020, Pei’s assets were already operating “regularly”, given the timely implementation of the health measures required by surveillance entities.

It should be noted that, during the first week of August, Jardín Plaza Cali and Jardín Plaza Cúcuta were the first shopping centers in Latin America to obtain ICONTEC’s certification, evidencing how PEI’s assets have proactively coped with the pandemic, directly contributing to the stabilization and subsequent recovery of the national economy, among others.

Instituto Colombiano de Normas Técnicas y Certificación (ICONTEC) [Colombian Institute for Technical Standards and Certification, the entity granting the Biosafety Operations Seal, following the declaration of the pandemic rose to the challenge of validating the biosafety protocols and generating a permanent brand certificate with a Biosafety Operations Seal, for the different public and private organizations in the country. This certification is supported on Decree 539 of April 13, 2020 of the Presidency of the Republic, which establishes biosecurity measures to mitigate, prevent the spread, and effectively manage the pandemic.

It is worth noting that the seal covers a period of one year, where the implementation and systematic application of the biosafety protocols aimed at minimizing the risks of coronavirus contagion among our tenants, visitors, collaborators, and suppliers associated with the certified and supervised real estate, will be determined. Furthermore, each property will be subject to random and extraordinary assessments, depending on the characteristics of each type of asset, to verify compliance with each point of the relevant regulations. At the same time, the competent health authorities continue to carry out any audits that they may deem pertinent.

Mr. Iván Darío Parra, Pei Asset Management’s Assets Administration Manager, stated that “this seal provides all visitors, tenants, collaborators, and suppliers with confidence and transparency as to the full compliance of the biosafety protocols in each of the assets of Pei’s portfolio. It should be noted that, since the beginning of the pandemic, Pei Asset Management, hand in hand with the assets operators, has tirelessly worked toward the incorporation, and responsible and comprehensive verification of the protocols and measures ordered by the National Government to protect Colombian citizens’ health”.

Pei Asset Management expects to obtain Icontec’s Biosafety Operations Certification for 24 of Pei’s assets before the end of 2021 and, during the next six months, to continue with the certification of an even larger number of properties, thus continuing to contribute to the well-being of society, generating physical spaces that benefit the community and leverage its tenants and users growth safely, within the framework of the “new normality”.