The Spanish asset manager Alfana Investment Management made its first international acquisition in Portugal by purchasing Forum Algarve in Faro for around 130 million euros. The transaction was signed in Lisbon and is aligned with Alfana's strategy of investing in assets in consolidated and high-traffic areas, such as Faro, where visitor volume and the resident population are growing.
The property, built in 2001, has a total area of 27,400 square meters, 115 stores and more than 2,200 parking spaces. According to the 2025 financial statements, the mall received more than 7.8 million visitors, mainly due to tourist flow, and tenant sales exceeded 120 million euros. Forum Algarve has an occupancy rate of almost 100%.
The tenants of the shopping center include all Inditex brands, as well as stores such as Mango, Tendam, Fnac and Primor, and a food and beverage portfolio including McDonald's and Starbucks, among others. The new owners' goal is to integrate the Portuguese shopping center into Rivoli Retail.
The real estate operation was financed through an investment from wealth management clients of Banco Santander. Among the advisors were the law firm Garrigues, the auditor KPMG and the consultants RPE, CBRE and GMD Consultoría.
