Fortress has set its sights on becoming SA’s leading logistics property company within three to five years, having put the worst five months in its history behind it. So far in 2018, the industrial-focused property group’s B-shares have lost about 60% of their value after major sell-offs following accusations its management inflated share prices. Fortress hosted a pre-close period investor conference call on Tuesday when CEO Mark Stevens said Fortress had done everything in its power to respond to criticism about how it ran its business. Fortress listed its A and B shares in October 2009 with a combined market capitalisation of R1.8bn. Its combined market capitalisation sits at about R37.3bn. The company could now focus on its aggressive expansion plans and possibly double its portfolio in the next three years.
"We can have a fresh start now and roll out numerous value adding developments including two massive projects in Durban," said Stevens. The group would own 150 high-qua...
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