How Amancio Ortega and Other Billionaires Are Reshaping the Global Real Estate Market
As the world’s richest people strengthen their hold on the global commercial real estate market, Zara founder Amancio Ortega continues to expand his property empire. Ortega acquired at least 10 commercial assets across North America and Europe, spending over $1.5 billion in 2025. He controls the retail giant Inditex and has an estimated net worth of around $130 billion, according to Bloomberg data.
Private investors collectively deployed about $464 billion into commercial real estate in 2025, surpassing institutional firms, which invested $347 billion during the same period. This marked the fourth straight year in which wealthy individuals, family offices, and closely held companies outspent large institutions, according to global property consultancy Knight Frank.
The shift began after 2022, when rising borrowing costs forced many institutional investors to reduce their exposure to property markets. Wealthy individuals used their long-term investment approach to secure prime assets at lower prices.
Ortega’s family office, Pontegadea, made one of the crucial deals by purchasing a two-tower office complex in Vancouver leased to Amazon for about $780 million, reported Bloomberg. The firm declined to comment on the transaction, but the move reflects a broader trend of billionaires targeting stable, income-generating properties.
Other ultra-rich investors also seized opportunities. Larry Ellison bought an office building in London’s St James’s district in early 2025 at a price below its original asking value. Greg Flynn participated in a deal for two San Francisco office towers, benefiting from reduced valuations after pandemic-driven vacancies.
Industrial properties, office spaces, and rental housing received the highest levels of capital. At the same time, the rapid growth of artificial intelligence boosted demand for data centres, which saw a 36 percent jump in investment over the year, reported Bloomberg. This surge has even created a new category of real estate billionaires focused on digital infrastructure.
Real estate remains a key asset class for the ultra-wealthy, accounting for about 11 percent of their investment portfolios. It offers stable income, protection against inflation, and opportunities for long-term growth. Many investors also view property as a tangible asset that carries prestige and personal value.
However, not all investments have delivered strong returns. Naguib Sawiris reduced the asking price of his luxury penthouse in London’s Knightsbridge area by about £10 million after failing to secure a buyer. Ortega’s firm also agreed to sell a Manhattan office building for less than half of its original purchase price from two decades ago.
Despite such setbacks, Ortega continues to maintain strong liquidity, reported Bloomberg. He is expected to receive around €3.2 billion in dividends from Inditex this year, which supports further investments. His wealth, along with that of other top billionaires, has surged significantly. Members of Bloomberg’s index of the world’s 500 richest people nearly doubled their combined net worth since late 2022, reaching close to $12 trillion.
