Amancio Ortega, the Spanish billionaire and founder of Zara, has made a substantial investment in the real estate market by purchasing a logistics centre in Dublin, Ireland. The centre, primarily used by online retail giant Amazon, was acquired for a staggering 225 million euros ($244.98 million) through Ortega’s investment firm Pontegadea.

This move marks the first time Pontegadea has invested in the logistics sector in Ireland, representing a significant step for the company. Earlier this year, Pontegadea also purchased a luxury residential building in Dublin with 120 apartments for approximately 100 million euros.

Pontegadea Inmobiliaria, the real estate arm of Ortega’s firm, gained attention in 2019 when it acquired two office blocks in Seattle that were leased to Amazon, making it the company’s largest investment in the United States at the time.

The recently acquired logistics centre in Dublin spans an expansive 1.2 million square feet (111,484 square metres) within the Baldonnell Business Park. The property was purchased from property developer Mountpark, with approximately 630,000 square feet of the site currently occupied by Amazon.

Pontegadea has been actively diversifying its investment portfolio, venturing into various real estate assets such as luxury buildings and renewable energy projects. This strategy reflects the company’s aim to spread its investments across different sectors.

Thanks to the 2.2 billion euros in dividends cashed in from their stake in Inditex, the parent company of Zara, Ortega’s investment firm has ample funds to pursue these significant real estate transactions.

The acquisition of the Dublin logistics centre highlights Ortega’s continued interest in the real estate market and his ability to make strategic investments. As a highly successful entrepreneur, his business acumen extends beyond the fashion industry and into various sectors, including real estate. Investing in logistics centres aligns with the growth of e-commerce and the increasing importance of efficient logistics operations.

This purchase further solidifies Ireland’s position as a key location for global logistics operations due to its favorable business environment and strong infrastructure. Dublin continues to attract major players in the logistics and e-commerce industries, with Amazon’s presence highlighting the city’s significance as a hub for online retail operations.

Overall, Ortega’s acquisition of the Amazon logistics centre in Dublin is a significant development in the real estate market. With his track record of successful investments, it will be interesting to see how his venture into the logistics sector in Ireland unfolds and how it contributes to Pontegadea’s expanding real estate portfolio.

Relevant links:
1. Zara founder Amancio Ortega – the emperor of global Chi-chi – proves that capital is so 20th century
2. Spain’s Richest Man Boosts Real Estate Investments as Spain’s Economy Improves