Amancio Ortega Expands Real Estate Empire with Luxury Mall Purchase in Miami

Spanish billionaire and founder of Inditex, Amancio Ortega, is further expanding his real estate holdings in the United States with a significant purchase in Miami. Through his investment firm, Pontegadea, Ortega has acquired Atlas Plaza, a luxury shopping center located in the prestigious Design District, a rapidly growing hub for high-end brands.

According to reports from Bloomberg and various financial outlets, the transaction was valued at 88 million euros (approximately 105 million dollars) and handled by Newmark Group's team. The complex is fully leased with distinguished tenants, including Rolex, increasing its strategic value in the real estate market.

This acquisition follows Ortega's recent purchase of the Sabadell Financial Center, a 31-story skyscraper standing 130 meters tall, also in Miami, for 275 million dollars (235 million euros). In total, Ortega has invested around 323 million euros in Miami within a month, significantly enhancing his presence in South Florida.

Strategic Moves in New York

While expanding in Miami, Ortega's strategy also involves divesting in other parts of the United States. In New York, Pontegadea sold an office building at 366 Madison Avenue, Manhattan, for about 50 million dollars to the real estate fund Sioni Group, owned by brothers Ray and Jack Yadidi. This sale represents a substantial loss from the 115.5 million dollars Ortega initially paid in 2006, marking a depreciation close to 57%.

Diversifying Through Dividend Reinvestment

Ortega's expansion strategy is driven by the need to reinvest dividends from Inditex. In 2025 alone, he received approximately 3,100 million euros in dividends from the textile company, part of which are funneled into new acquisitions to mitigate a heavier tax burden from Spain's wealth tax, as reported by Gestión.

A Global Investment Strategy

Throughout 2025, Pontegadea has added various assets in Europe and America, including the Hotel Banke in Paris, a residential building in Fort Lauderdale, and a property on Avenida Diagonal in Barcelona. These moves strengthen the holding's position as one of the world's largest private real estate investors, with a presence in Europe, the United States, and Canada.

Pontegadea's portfolio, exceeding 100 billion euros, also includes stakes in strategic companies like Inditex, Red Eléctrica, and Enagás, underscoring the Galician magnate's diversified wealth strategy.