From Fast Fashion to Real Estate: Billionaire Amancio Ortega seizes opportunity to expand

Pontegadea, the personal investment group of Amancio Ortega worth over €90 billion, is increasing its real estate portfolio. In the last year, Pontegadea has acquired 10 properties worth €1.1 billion, including logistics, office and residential properties. Pontegadea Inversiones SL also owns 59% of Inditex, the parent company of Zara.

Ortega, who is the owner of a large portfolio of offices located in Europe and North America, already rents out offices to Amazon in Seattle and owns a warehouse in Dublin that is used by the e-commerce giant. Additionally, he is also the landlord to Meta Platforms Inc. and Apple Inc. His property portfolio is valued at €18.1 billion, according to the latest data available, making it the largest real estate portfolio among Europe’s family offices.

Pontegadea has recently made two major purchases, spending $113 million on a cold storage warehouse in Miami and €100 million on a distribution center in the Netherlands that is used by Primark. These acquisitions have increased their property portfolio to roughly €20 billion across 11 different countries.

Fast fashion billionaire Amancio Ortega began his journey in 1963 in Galicia, where he established a home workshop to manufacture dresses and dressing gowns. He is currently the 15th richest person in the world, with a fortune of $85.5 billion. This year, Pontegadea, the holding company owned by Ortega, is expected to receive dividends worth approximately €2.2 billion from its shares in Inditex, the parent company of fashion brands like Zara, Massimo Dutti, and Bershka.

Annually, it earns €800 million to €900 million in income, including rent, from its investments, which include renewable energy plants.

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