The project was unanimously approved during a Lagoa City Council meeting on 11 August and is expected to represent an investment of around €6 million.

As reported by Algarve Vivo, the next step will be to send the proposal to the Municipal Assembly before moving ahead with the public tender process. The council intends to launch the tender during the first quarter of 2027.

The new parking facility is planned for the area of the current Municipal Market in Carvoeiro and has been designed to combine additional parking with the continuation of the market at the site.

Once completed, it is expected to provide 312 parking spaces, significantly increasing parking capacity in the centre of the popular Algarve town.

The project has been discussed locally for around two decades and has undergone several changes and revisions over the years.

In the past eight years alone, plans have moved forward and then faced delays on several occasions as the project was further developed and revised.

Financing for the approximately €6 million development is expected to come through bank funding. Lagoa Mayor Luís Encarnação has previously said that this would allow the municipality to carry out the project without putting its finances out of balance.

A final timetable for construction will depend on the public procurement procedure and the legal deadlines involved.

Speaking to local publication Lagoa Informa, Luís Encarnação and vice-president Ruben Palma did not provide further details at this stage, but said the municipality is making every effort to finally turn the long-discussed Carvoeiro parking project into a reality.