Zara founder Ortega leads ultra-rich’s push into US$1 trillion property market
Ultra-rich individuals, including Zara founder Amancio Ortega, are investing heavily in the US$1 trillion commercial real estate market, with a record US$464 billion deployed in 2025. This is driven by institutional firms stepping back from the market amid higher borrowing costs since 2022.
The world's ultra-rich individuals are driving a surge in commercial real estate investments, with a record US$464 billion deployed in 2025. Zara founder Amancio Ortega expanded his global portfolio, acquiring at least 10 properties across North America and Europe for over US$1.5 billion. Ortega's family office, Pontegadea, bought a two-tower complex in downtown Vancouver for about US$780 million. Private capital continues to outpace institutional investors, who allocated US$347 billion in the same period. The trend is driven by institutional firms stepping back from the market amid higher borrowing costs since 2022. Total investment into commercial real estate rose 12% in 2025, with markets for industrial, office, and rental housing receiving the highest sums of capital.
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