Fortress REIT Limited A shares have recorded the best performance among real estate stocks on the JSE this year, with an impressive 19.5% total return.

The PwC investigation commissioned in November last year by the Special Subcommittee of the board of directors of Fortress REIT Ltd (JSE: FFA and FFB), has found no conclusive evidence to confirm any of the allegations made against the Company or its Management in respect of market manipulation or insider trading and in respect of undue related party benefits or wrongdoing in historic property transactions.

Fortress REIT Ltd., the diversified property group, today advised shareholders that its board of directors has identified suitable candidates to continue driving the business forward and ensuring continuity.

Fortress REIT Limited, the diversified property group, has secured Vodacom as a major new tenant at its Louwlardia Logistics Park development in Centurion for a period of five-years, a major coup for the company, which also has We Buy Cars and Goldwagen Car Parts as tenants at the same facility.

One of South Africa’s most recognised and highly-regarded property developers and investors, Jeff Zidel, is set to retire in June after a distinguished 47-year career in the industry. 

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