Real estate tycoon Amancio Ortega acquires Torre Picasso for a hefty $400 million.
Amancio Ortega Acquires Torre Picasso Skyscraper in Madrid
Amancio Ortega, the founder of the Inditex fashion group, has made a significant move in the world of real estate. The Spanish billionaire has acquired the Torre Picasso skyscraper, a notable building in Madrid, through his company, Pontegadea.
The Torre Picasso stands 157 meters tall and boasts a total surface area of 121,000 square meters. Located on Paseo de la Castellana, it is one of the most sought-after properties in the Spanish capital.
The financial details of the deal have not been disclosed, but reports suggest that Ortega made a 400 million euro investment. The Torre Picasso was previously owned by FCC.
Ortega, who has stepped down as president of Inditex, leads the Pontegadea company and manages its real estate investments. The company owns commercial spaces used by chains like Zara in cities like New York.
The acquisition of the Torre Picasso skyscraper marks another step in Ortega's diversified business portfolio. Despite his retirement from Inditex, he remains active in the world of business, making strategic moves that continue to shape the Spanish economy.
Read also:
- visionary women of WearCheck spearheading technological advancements and catalyzing transformations
- Recognition of Exceptional Patient Care: Top Staff Honored by Medical Center Board
- A continuous command instructing an entity to halts all actions, repeated numerous times.
- Oxidative Stress in Sperm Abnormalities: Impact of Reactive Oxygen Species (ROS) on Sperm Harm
