Amancio Ortega, the founder and first shareholder of Inditex, via its investment arm Pontegadea, has completed a €225 million purchase of a logistics complex at Dublin’s Baldonnell Business Park. The main tenant is Amazon, a detail confirmed by sources familiar with the operation and reported to Europa Press.
This marks Ortega’s first logistics investment in Ireland, a market where Pontegadea already holds other assets.
The logistics complex, which hosts five tenants on long-term agreements, was previously owned by the industrial and logistics real estate developer Mountpark, according to The Irish Times.
The facility spans approximately 120,000 square meters, with Amazon accounting for the largest share of space and activity, occupying about 63,000 square meters.
With this purchase, Pontegadea continues its expansion in real estate following a phase of robust earnings and reinvestment. In 2023, the dividend received from Inditex exceeded €1.7 million, reinforcing the group’s capacity for strategic acquisitions.
Ortega has previously directed a portion of Inditex dividends toward real estate investments, expanding into a diversified portfolio that emphasizes large office and non-residential properties.
Ortega remains at the forefront of wealth rankings, with Forbes noting a substantial rise in net worth driven by recent gains. His wealth has surged, reaching well over €80 billion, a figure that eclipses the combined wealth of rivals within the top tier of global rankings.
Beyond his wealth, Ortega’s portfolio highlights a continued focus on core markets and major city centers across Europe, North America, and Asia. The Dublin acquisition underscores a broader strategy of acquiring high-quality, long-term assets in key logistics corridors that support multinational operations and cross-border commerce, including U.S. and Canadian supply chains that increasingly rely on European hubs for regional distribution. In this context, the investment is seen as aligning with international capital flows seeking stable, income-producing assets in strategic locations.
Industry observers note that Pontegadea’s approach combines ownership of premier properties with disciplined asset management, aiming to optimize occupancy, rental yields, and long-term value. The Dublin complex’s mix of tenants beyond Amazon suggests a diversified income stream and a resilient portfolio designed to weather market cycles while supporting growth in global e-commerce and logistics networks,” with attribution to industry briefings and market reports as of the latest period.