Alfana acquires Forum Algarve shopping center for 130 million euros

Alfana Investment Management has acquired the Forum Algarve shopping center in Faro, Portugal, for approximately 130 million euros. This transaction marks the firm’s first international acquisition, expanding its presence within the Iberian market.

Constructed in 2001, the 27,400-square-meter complex features 115 commercial establishments and over 2,200 parking spaces. The center maintains an occupancy rate near 100%, hosting major brands such as Inditex, Mango, Tendam, Fnac, and Primor, alongside dining options like McDonald’s and Starbucks.

In 2025, the center reported operator sales exceeding 120 million euros and attracted more than 7.8 million visitors, driven by local demographics and significant tourism. Alfana will integrate Forum Algarve into its Rivoli Retail portfolio, bringing its total managed retail assets to approximately 1,000 million euros.