The Spanish asset manager Alfana Investment Management made its first international acquisition in Portugal, purchasing Forum Algarve in Faro for approximately 130 million euros. The operation was financed through an investment from Banco Santander's wealth management clients.
The transaction was advised by law firm Garrigues, on behalf of Alfana, also with support from auditor KPMG and consultants RPE, CBRE and GMD Consultoría. The Garrigues team was led by partners Miguel Menezes da Silva, Vasco Rodrigues and Miguel Pimentel.
The property, built in 2001, has a total area of 27,400 square metres, 115 shops and more than 2,200 parking spaces. According to the 2025 financial statements, the shopping centre received more than 7.8 million visitors and tenant sales exceeded 120 million euros, with an occupancy rate of almost 100%.
The new owners intend to integrate Forum Algarve into Rivoli Retail. The shopping centre features stores from Inditex, Mango, Tendam, Fnac and Primor, as well as food and beverage outlets such as McDonald's and Starbucks. The acquisition is aligned with Alfana's strategy of investing in assets in established, high-traffic areas such as Faro, where visitor volume and the resident population are growing.
