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The Galician businessman Amancio Ortega, founder of Inditex and regarded as the wealthiest individual in Spain, continues to strengthen his real estate empire in the United States with a new acquisition in Miami.
Through his investment holding Pontegadea, Ortega has completed the purchase of Atlas Plaza, a luxury shopping center located in the Design District, one of the most exclusive and rapidly growing areas in the high-end brand market.
According to information published by Bloomberg and confirmed by several economic outlets, the operation amounted to 88 million euros (approximately 105 million dollars) and was handled by the team at Newmark Group.
The complex is 100% leased with prestigious tenants, including Rolex, which reinforces its strategic value within the real estate market.
This acquisition adds to the agreement made this summer for the purchase of the Sabadell Financial Center, a 31-story skyscraper standing 130 meters tall, also in Miami, for $275 million (€235 million).
In total, Ortega has invested around 323 million euros in the city in just one month, thereby consolidating an increasingly prominent presence in southern Florida.
Sale in New York at a loss
The expansion in Miami occurs alongside divestment movements in other parts of the United States.
In New York, Pontegadea closed the sale of an office building at 366 Madison Avenue in Manhattan for about 50 million dollars to the Sioni Group real estate fund, owned by brothers Ray and Jack Yadidi.
The figure represents a significant loss compared to the 115.5 million that Ortega paid in 2006, with a depreciation of nearly 57%.
Reinvestment of dividends and diversification
The expansion strategy also responds to the need to reinvest the dividends obtained by Ortega from Inditex.
In 2025 alone, the businessman received approximately 3.1 billion euros in dividends from the textile company, part of which is allocated for new acquisitions to avoid a higher tax burden from the wealth tax in Spain, according to Gestión.
Global bet
So far in 2025, Pontegadea has added more assets in both Europe and America, including the Banke Hotel in Paris, a residential building in Fort Lauderdale, and a property on Diagonal Avenue in Barcelona.
With these operations, the holding consolidates its role as one of the largest private real estate investors in the world, with a presence in Europe, the United States, and Canada.
Pontegadea's portfolio, which exceeds 100 billion euros, also includes stakes in strategic companies such as Inditex, Red Eléctrica, and Enagás, confirming the asset diversification of the Galician magnate.
Frequently Asked Questions about Amancio Ortega's Real Estate Investment in Miami
What has Amancio Ortega bought in Miami?
Amancio Ortega, through his holding Pontegadea, has acquired the Atlas Plaza shopping complex in Miami's Design District for 88 million euros (about 105 million dollars). This purchase strengthens his presence in the luxury real estate market in the United States.
Why does Amancio Ortega invest in real estate in Miami?
The investment strategy of Amancio Ortega in Miami aligns with his interest in diversifying and reinvesting the dividends obtained from Inditex. Miami has become a hub for millionaires due to its tax advantages and booming real estate market.
How has the migration of millionaires to Florida affected the real estate market?
The migration of millionaires to Florida, in search of lower taxes and a better quality of life, has significantly boosted the luxury real estate market in the region. This has turned cities like Miami into investment hotspots and has driven up prices for high-end properties.
What is the situation of the luxury real estate market in Miami?
The luxury real estate market in Miami is booming, with a significant increase in interest and prices for high-end properties. Areas like Brickell and the Design District have established themselves as preferred destinations for international investors and buyers.
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