Pontegadea, Amancio Ortega's private investment group worth more than 90 billion euros, is expanding its real estate portfolio. Last year, Pontegadea acquired 10 properties worth 1.1 billion euros, including logistics facilities, offices and residential properties. Pontegadea Inversiones SL also owns his 59% of Inditex, the parent company of Zara.
Mr. Ortega owns a large office portfolio in Europe and North America, and already rents an office to Amazon in Seattle and owns a warehouse in Dublin used by the e-commerce giant. Additionally, he is also the landlord of Meta-Hi Platforms Inc. and Apple Inc. According to the latest data available, his real estate portfolio values him at 18.1 billion euros, making him the largest real estate portfolio of any family office in Europe.
Pontegadea recently made two major acquisitions, spending $113 million on a cold storage warehouse in Miami and €100 million on a distribution center in the Netherlands used by Primark. These acquisitions have increased the company's real estate portfolio to around 20 billion euros in his 11 countries.
Fast fashion billionaire Amancio Ortega began his journey in Galicia in 1963, where he established a home workshop to manufacture dresses and dressing gowns. He is currently the 15th richest person in the world, and his wealth is $85.5 billion. Mr Ortega's holding company Pontegadea is expected to receive dividends worth around 2.2 billion euros this year from its stake in Inditex, the parent company of fashion brands such as Zara, Massimo Dutti and Bershka.
It earns between 800 million euros and 900 million euros a year, including rent, from investments such as renewable energy power plants.
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