Amancio Ortega, the visionary founder of Zara, has made a strategic investment with the acquisition of an Amazon logistics centre in Dublin, Ireland, valued at $245 million. This significant move, orchestrated by Ortega’s investment powerhouse, Pontegadea, signifies its maiden venture into the thriving logistics real estate market of Ireland.
In a noteworthy expansion earlier this year, Pontegadea secured a luxury residential building in Dublin featuring 120 rentable apartments at an estimated cost of 100 million euros. Building on this momentum, the firm, through Pontegadea Inmobiliaria, made a splash in 2019 with the acquisition of two Seattle office blocks leased to Amazon—a landmark deal for the Spanish conglomerate in the U.S. real estate landscape.
The recently acquired property spans an expansive 1.2 million square feet in Dublin’s Baldonnell Business Park, with Amazon already occupying around 630,000 square feet. This strategic acquisition aligns seamlessly with Pontegadea’s dynamic portfolio expansion strategy, encompassing logistics centers, upscale properties, and sustainable energy initiatives.
As the Ortega family investment vehicle, having recently received a substantial 2.2 billion euros dividend from Inditex, continues its strategic real estate pursuits, this move underscores a versatile investment approach in diverse and burgeoning sectors. Amancio Ortega’s imprint on the global business landscape extends beyond fashion, showcasing his acumen in real estate ventures that resonate with market dynamics and future trends.
