Spanish billionaire Amancio Ortega, the founder of clothing giant Zara, has built up a global real estate empire that includes offices used by Facebook and Amazon in Seattle and large swathes of London's Oxford Street.
The 83-year-old stepped down as chairman of Inditex, the owner of Zara, in 2011 but he still owns 59 percent of the world's biggest fashion retailer, which also owns other popular fashion brands like Massimo Dutti and Bershka.
Ortega steers clear of housing real estate, which is potentially more profitable but has a bad reputation after a property bubble burst in the late 2000s, triggering a prolonged recession.In addition to owning several buildings in Madrid and Barcelona, Ortega has become the main real estate proprietor of London's Oxford Street, Europe's busiest shopping street.
He also favours"top category tenants with good solvability", with a preference for major multinationals, said Rafael Sambola, a professor Barcelona's Eada business school who has authored several books on finance and accounting. Ortega currently owns property in nine countries: Britain, Canada, France, Italy, Mexico, Portugal, South Korea, Spain and the United States.
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Source: The Straits Times - 🏆 8. / 63 Read more »