The investment firm of Spanish billionaire Amancio Ortega, the founder of fashion giant Inditex , on Thursday reported a 2.8 billion-euro jump in the market value of its real estate assets last year, to 18.1 billion euros ($20.08 billion).
The United States, where Inditexto open more of its Zara stores, has been one of Ortega'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 COVID-19 pandemic. The fashion giant beat its competitors last year, posting profits 15% higher than pre-pandemic 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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