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Zara owner builds US$10b property empire

Relying on all-cash offers, Ortega, 77, outbids world's top institutional funds and property investors

[NEW YORK] Amancio Ortega Gaona, already the world's fourth-richest person based on the success of his Zara fashion retail stores, has quietly amassed a real estate empire worth as much as US$10 billion and is emerging as a formidable competitor for prime properties from London to Beverly Hills

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