Newspaper Correio da Manhã reports that the two friends, young men aged 18, were surrounded by a gang of five men who forced them to hand over their cash and valuables.
The incident happened during the early hours of Saturday morning after the teens had been at the popular Santa Iria fair, which has set up in Faro’s São Francisco square.
The friends were reportedly approached near the local fire station while walking to the city’s bar area.