Fortress reports steady progress on strategy, focusing portfolio

Real estate investment trust (Reit) Fortress is effectively executing its development strategy and has managed to secure tenants for about 340 000 square metres of gross lettable area (GLA) out of its one-million square metre GLA logistics development pipeline in South Africa. Nearly 62 500 square metres of GLA was completed and let in the six-month interim reporting period to the end of December 2020, while the remainder of about 278 000 square metres is work-in-progress.