September 20 () –
Inditex founder and largest shareholder, Amancio Ortega, through his investment arm Pontegadea, continues to strengthen his investments in brick and mortar with the acquisition of an office building in Paris, located near the Opera, for an amount of approximately 200 million euros.
The purchase of the property, located at 14 rue Halévy and covering an area of 10,000 square metres, represents the largest investment this year in the heart of the French capital, according to information from the specialist French media CFNews.
The deal comes after the founder of Inditex bought logistics assets in Italy for 327 million euros.
So far this year, Ortega, which began purchasing logistics assets in 2022, has purchased a prime office building in Luxembourg for an amount of 165 million euros.
In addition to this operation, the founder of Inditex completed the acquisition from Blackstone of a logistics warehouse in the Netherlands for 100 million euros occupied by the fashion firm Primark and the purchase of a logistics warehouse rented to Amazon near Vancouver (Canada) for an amount close to 260 million euros.
The founder of Inditex invests part of the dividends he receives from the textile group in the real estate sector.
In fact, Ortega will receive a total of 2.845 billion euros in dividends from the company this year (half of which he has already received last May and the rest will be collected in November), above the 2.217 billion euros he received for this concept last year.
In total, the company will pay its shareholders nearly 4.8 billion euros this year, after increasing its dividend by 28% to 1.54 euros per share.
Ortega owns the largest Spanish real estate company, focused on the purchase and management of large buildings, with a portfolio of real estate assets consisting primarily of non-residential office buildings located in the centre of large cities in Spain, the United Kingdom, the United States and Asia.
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