Amancio Ortega, the billionaire founder of Zara parent company Inditex, has purchased a warehouse in the Netherlands for a fee of €105 million.

The purchase was made through Ortega’s investment firm Pontegadea, which announced the deal this week.

The deal represents a move from Ortega into the European logistics market, having spent more than $1 billion on distribution centres across the US in 2022. Ortega’s real estate portfolio was valued at €15.3 billion in 2021, and is one of the largest among European property family offices.

Located in the southeastern city of Venlo on the banks of the river Meuse near the German border, the warehouse covers 103,000 square metres. It is currently rented by Danish transport company DSV A/S.

This is the latest major European property purchase from Ortega. In April, the 87-year-old billionaire acquired a former BBC office building near the Oxford Circus junction on 33 Foley Street in London for £82 million. That news came one month after he spent $108 on a luxury residential building in Dublin.

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