Fashion magnate, Amancio Ortega recently invested up to 100 million euros into the Spanish arm of Pontegadea España, the founder of the Inditex fashion empire's real estate business.
On par with the likes of billionaires such as Bill Gates and Carlos Slim, Ortega owns Zara among other recognised high street brands and is recognised as one of the world's wealthiest men. According to Spain's Central Mercantile Register, Ortega has recently made the move to reorganise his real estate subsidiary in order to better position himself to benefit from Spain's thriving construction and property sectors.
Ortega's global property portfolio is valued at 6.72 billion euros and he is Spain's largest real estate investor. Ortega's Spanish real estate assets are currently valued at around 1.6 billion euros and include the Torre Picasso tower in Madrid, the cities building 79 on the Paseo de la Castellana avenue and a variety of other reputable commercial and residential ventures across the nation.
Ortega's strong presence within the Spanish property market is sure to attract further interest to the region and is certainly a good indication of what is in store in 2018.