Fortress is pleased to announce that the company has concluded a lease agreement for a new Makro store at Cornubia Ridge. This development of Makro’s 22nd store in South Africa will complement KwaZulu-Natal’s premier retail node in the greater Umhlanga area.

The planned opening for the new Makro is set for the first quarter of 2019. The development will be undertaken by a subsidiary of Fortress in which Fortress holds a 50.1% share. The development will comprise approximately 18 950m² of gross lettable area and will have a total estimated development cost of R325 million.

This retail facility, let on a 20-year lease to Makro, one of South Africa’s most recognisable retail brands, draws on the development expertise of Fortress and enhances the company’s relationship with one of the key retail groups in Africa.