Shape memory alloys (SMAs) have a special characteristic, which is called shape memory effect (SME). SME means that the material returns to its initial shape after having been deformed. If the returning to the initial shape is prevented for instance by a mechanical fixation, stress develops in the SMA. In the form of ribbed bars and strips, the SMAs can therefore be used as prestressing elements in new reinforced concrete (RC) structures or for strengthening of existing RC structures. An iron-based SMA (Fe-SMA) was developed and patented at Empa. This Fe-SMA shows high tensile strength, excellent shape recovery stress (i.e. prestress force), high elastic stiffness, low material costs and simple manufacturing process in comparison to nickel-titanium (NiTi) based alloys. Recently, the developed Fe-SMA strip has been produced at an industrial scale. In this paper, experimentally determined properties of these Fe-SMA strips are presented. These Fe-SMA strips can be used as externally end-anchored reinforcement to strengthen the RC structures.