5 August 2019
The French firm Frey, which specialises in commercial urban planning, bought Algarve Shopping and the Albufeira Retail Park from CBRE GIP and Sonae Sierra in a deal worth 179.3 million euros.
The shopping centre has more than 7.5 million visitors a year and a occupancy rate close to 100%. Inaugurated in 2001 and expanded in 2004 to a total of 60,000 square meters of surface area, the shopping mall will continue to be managed by Sonae Sierra.
Original Story: Jornal Expresso – Margarida Cardoso
Adaptation/Translation: Richard D. K. Turner