Luxembourg’s capital home to 70 centi-millionaires, study finds

In times of global economic uncertainty, brick remains a haven of value. That is well known by Amancio Ortega, the Spanish businessman founder of Inditex, the textile giant who owns brands such as Zara, Bershka, Massimo Dutti and Pull&Bear, among others. Through his investment arm, Pontegadea, the tycoon has just added a new piece to his important real estate portfolio: an office building in Luxembourg that until now belonged to the insurance co…

Luxembourg’s capital home to 70 centi-millionaires, study finds

Capital of Grand Duchy listed 50th in global ranking of 141 cities for residents with net worth of over $100 million (€88 million)

The property, which has a gross area of approximately 5,200 square meters, is rented to the Clifford Chance law firm.

The founder and first shareholder of Inditex, Amancio Ortega, through his investment arm Pontegadea, continues to strengthen his investments in 'ladrillo' and has bought an office building in Luxembourg from Manova and Mapfre, according to Europa Press in market sources.

Manova Partners and Mapfre sold the Charlotte office building in the central Luxembourg business district to a family office.

Pontegadea, Amancio Ortega's investment vehicle, remains unstoppable and buys a new office building in Luxembourg from Manova and Mapfre and rented to the Clifford Chance office.