Zara Owner Buys $550 Million Madrid Skyscraper
Europe’s richest man and founder of Zara, Amancio Ortega has bought one of Madrid famous skyscrapers for $550 million through his property investment arm. This indicates the billionaire strategy to build an empire through Pontegadea Inmobiliaria and his holding company Pontegadea Inversiones.
“Europe’s richest man and founder of Zara, Amancio Ortega has bought one of Madrid famous skyscrapers for $550 million through his property investment arm.”
Pontegadea Inmobiliaria bought the tower from Abu Dhabi tycoon Khadem al-Qubaisi, whose fund had exercised a last-minute purchase option from Spanish lender Bankia.
Zara opened its first store in the coastal town of A Coruña in the northwest of Spain in 1975. Zara has over 2,100 stores strategically located in leading cities across 88 countries. Zara’s designers and customers are inextricably linked. Specialist teams receive constant feedback on the decisions its customers are making at every Zara store. This feedback inspires Zara’s creative team which is made up of over 200 professionals.
Zara is always striving to meet the needs of its customers at the same time as helping to inform their ideas, trends and tastes. The idea is to share responsible passion for fashion across a broad spectrum of people, cultures and ages.
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