MADRID, July 27 Reuters The investment firm of Spanish billionaire Amancio Ortega, the founder of fashion giant Inditex, on Thursday reported a 2.8 billioneuro jump in the market value of its real estate assets last year, to 18.1 billion euros 20.08 billion.

Pontegadea, the Ortega family investment vehicle, has pumped up its portfolio lately by investing in logistics centres used by large global companies such as Fedex, and in luxury buildings across the United States, from New York to Seattle, in addition to office buildings.

The United States, where Inditex plans to open more of its Zara stores, has been one of Ortega39;s main markets. Ortega is the leading shareholder in Inditex, with a 59.29 stake.

Pontegadea booked a net profit of 2 billion euros last year, up from 1.6 billion euros in 2021, mainly due to dividends from Inditex, which soared as its key brand Zara quickly recovered from the COVID19 pandemic.

The fashion giant beat its competitors last year, posting profits 15 higher than prepandemic levels.

Pontegadea, which for years mainly focused on real estate, has also been looking into energy companies, buying stakes in solar plants, electricity grid operators and wind farms.

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Reporting by Corina Pons; editing by Catarina Demony and Andrei Khalip

Source Reuters