a day ago
Logistics sector growth enhances Fortress's financial prospects
Fortress is a real estate investment company with a diversified portfolio of high-quality logistics and retail assets located in South Africa and Central and Eastern Europe.
Fortress, a real estate investment company with a diversified portfolio of high-quality logistics and retail assets located in South Africa and Central and Eastern Europe, in an update on its operations for the period subsequent to December 31 2024 said on Friday that the logistics sector continues to demonstrate strong performance, with high-quality, secure space in sustained demand.
Fortress reaffirmed its current forecast for distributable earnings of R1.93bn for the financial year ending June 30, 2025 and provided distributable earnings guidance for 2026 of between R2.046bn and R2.075bn, representing growth in distributable earnings of between 6% and 7.5%.
"Vacancy rates remain low across the portfolio, highlighting the attractiveness of our assets. Currently, 117 915m2 of new logistics developments are underway, with 72.7% pre-let. This strong letting activity reflects the superior quality of our facilities, which feature best-in-class flooring, expansive yards and 15-metre eaves heights – allowing for increased racking and warehouse volume. These properties also benefit from excellent connectivity to key transport networks, supported by well-established infrastructure," it said.
