Fast fashion tycoon Amancio Ortega’s Pontegadea Inversiones SL has purchased a Canadian warehouse leased by Amazon for about €250 million (US$272 million), expanding his real estate empire. Situated in Burnaby, southeast of Vancouver, the facility spans nearly one million square feet. Ortega, majority owner of Inditex SA, the parent company of Zara, has been strategically acquiring logistics properties globally. Recent acquisitions include a Primark-utilized warehouse in the Netherlands and a Walmart-occupied facility in California.
Ortega’s real estate holdings, valued at €18.1 billion, are the largest among Europe’s family offices. While he’s diversified into telecom and energy assets, his wealth is predominantly tied to Inditex, which he founded and holds a 59% stake in. Ortega initiated his logistics investment spree in 2022, initially focusing on the United States before expanding into Europe with purchases in the Netherlands and Ireland. Despite diversification, Inditex remains the cornerstone of Ortega’s wealth, solidifying his status as the 15th richest person globally, with a net worth of US$85.4 billion according to the Bloomberg billionaires index.
