Fortress REIT increases its commitment to enterprise development in KZN
Fortress, the third largest REIT in South Africa, is assisting 14 KZN-based SMEs to participate in Property Point’s highly successful supplier and enterprise development incubator. The businesses involved are currently operating in the hygiene and cleaning, security services, construction, facilities management, utilities maintenance, electrical contracting, industrial roofing, skills training, and human development industries.
The partnership with Property Point will help accelerate enterprise and supplier development across Fortress’ real estate portfolio.
Small and mid-size businesses qualifying for participation in Property Point’s initiative are put through a rigorous two-year programme that helps businesses compete on merit. The programme guides businesses on market and funding readiness while equipping owners with the tools to access opportunities within the property sector.
“The 14 businesses that we’re supporting through this programme are all headed by inspirational entrepreneurs with great ideas and credible track records of delivery,” said Steven Brown, CEO of Fortress REIT.
Through participating in the programme, the SMEs will improve their access to markets for new business opportunities.
The rapid expansion of Fortress REIT’s logistics business at Clairwood in Durban and Cornubia Ridge in Umhlanga includes an impressive array of top-tier tenants “leveraging our state-of-the art logistics facilities in support of their own evolutions to ecommerce,” says Brown. As such, beyond Fortress’s own supplier pipeline, “our client network represents a powerful opportunity for these 14 businesses once they have completed the Property Point programme,” added Brown.
The Property Point business development programme boasts a proud track record of improving the performance of small businesses. A recent study found that, on average, graduates of the programme increased revenue by 78%. To date, Property Point has delivered market opportunities worth R1.62bn for the 175 SME graduates of the programme, creating 2,684 full-time jobs.
By collaborating as an industry to equip small businesses owners to grow and reach their potential “we’re not only contributing to the transformation of our country, but also creating critically-needed market access and jobs amongst the communities in which we are rooted,” concluded Brown.
About Property Point
Property Point has been dedicated to driving economic inclusion in the property sector for over 12 years. Established in 2008 as Growthpoint Properties’ Enterprise & Supplier Development initiative, Property Point has evolved into an industry initiative, partnering with some of the largest property organisation in the country, namely, Attacq Limited, Fortress REIT Limited and Pareto Limited as well as the Public Sector Investment Corporation and the Small Enterprise Development Agency.
Property Point partners with small businesses to enable sustainability through access to markets, access to funding and business development support resulting in community upliftment through job creation.