Amancio Ortega invests more than 1,200 million in real estate this year

Amancio Ortega’s real estate business is increasingly a true empire. This Thursday, the business holding company of the founder of Inditex announced the acquisition of two new properties in Alemanifor 150 million euros. Pontegadea Inversiones, formed by the company itself Pontegadea InvestmentsPartler 2006 and Pontegadea GB 2020, this was done with two platforms from the logistics developer Dietz AG, until now rented with long-term contracts to a single tenant and with a total gross leasable area (GLA) of about 118,500 square meters.

With this new acquisition, Ortega’s investment arm now adds some real estate investments for more than 1,200 million of euros this year alone, a period in which it is giving a great boost to its investment side.

In January, the first investments made by Pontegadea were announced. On January 12, it was announced that it had purchased an 87,000 square meter logistics warehouse in Roosendaal from Blackstone, Netherlands, by 100 million euros. Until that moment, the warehouse was occupied by the fashion brand Primark, so apart from increasing its real estate stock, it became the “home” of one of its main competitors.

Days later, his second move of the year was announced, this time ‘across the pond’. It then acquired a logistics warehouse rented from Amazon near Vancouver, Canadafor an amount close to 260 million euros. In March, Ortega, which owns the largest Spanish real estate company, acquired a ‘prime’ office building for 165 million in Luxembourg. The property, which has an area of ​​10,000 square meters, is the Luxembourg headquarters of the European venture capital fund CVC, according to Europa Press at the time.

And until September there was a certain investment ‘drought’. At the beginning of the month, Pontegadea purchased logistics assets in Milan and in Rome for a total amount of 327 million. 10 days later, a new investment movement was announced: they took over an office building in Parislocated near the Opera, for an amount of approximately 200 million.

All this, together with the new announcement of the purchase of the platforms in Germany, adds up to a total of at least 1,202 million euros in investments in ‘brick’ this year alone.

Amancio Ortega’s business holding company is already close to 8,000 million in profits

All in all, it must be said that Amancio Ortega is not only doing well with Inditex. In fact, this holding company It is already close to 8,000 million euros profit (7,943 million). That is, last year it increased its profits by 21% compared to 2022, as shown by the individual accounts presented in the Commercial Registry. This entire business conglomerate added up to a total of 39,646 million euros of turnover, 12% morewhile net worth amounted to 82,558 million euros, compared to 75,103 million euros in 2022.

All these data show that Ortega owns the largest Spanish real estate company, focused on the purchase and management of large buildings, with a portfolio of real estate assets mainly made up of office, non-residential buildings, located in the centers of large cities in Spain, the United Kingdom, the United States and Asia.