29 July 2019 – Richard D. K. Turner
The value of Amancio Ortega’s real estate holdings went up by 11% last year to reach 9.7 billion euros. Ortega, who founded Inditex, owns buildings that generated total revenues of €405 million in 2018, up 5.2% year-on-year. The mogul’s firm, Pontegadea, owns properties in Los Angeles, Seoul, Miami, New York, London and Madrid, among others. The firm’s revenues have their highest geographic concentration in Europe (51%), followed by the Americas (46%) and Asia, at 3%.
Last year, Pontegadea Inmobiliaria made acquisitions totalling 416 million euros while it also invested in the renovation of its existing stock of properties. Its largest investment was for 340 million euros, in a Washington DC office building called The Investment Building near the White House.
Original Story: Expansión – Marisa Anglés