Owner of Marbella's La Cañada mall is named seventh richest in Spain

Tomás Olivo, who has also recently increased his stake in Malaga-based Unicaja bank to around 5 per cent, has a personal wealth of 2.1 billion euros according to Forbes

SUR

Friday, 14 August 2020, 17:29

Forbes magazine has named Tomás Olivo as the seventh richest person in Spain. Marbella-based Olivo is owner of the company called General de Galerías Comerciales (GGC), which runs La Cañada shopping centre in the resort as well as several more across the country. Forbes describes Olivo as, "the king of Spanish shopping centres".

Olivo, who has also recently increased his stake in Malaga-based Unicaja bank to around 5 per cent, has a personal wealth of 2.1 billion euros according to Forbes. His company, GGC, had profits of 169 million euros in 2019, according to accounts data submitted to Spanish markets. In 2018 it had 31 per cent more profit, at 245 million euros.

Olivo's company increased its property portfolio value in 2019 by 285 million euros to 2.56 billion euros.

Olivo, as well as being seventh richest person in Spain, is the wealthiest in Malaga province.

The richest person in all Spain is Amancio Ortega, the founder of clothing giant Inditex, which includes Zara. His fortune is valued by Forbes at 55 billion euros, making him also the tenth richest person in the world.

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