Newsroom
If you've ever grabbed a coffee, ice cream, or quick bite at Thalassaki while strolling along Limassol's seafront, the latest figures linked to the popular snack bar may come as a surprise.
Bids have now been opened for the Municipality of Limassol's tender to lease out the well-known beachfront venue at Akti Olympion, and some of the offers are turning heads, including one that tops €1 million.
According to reports, the highest bid came from the Kaspinas group of companies, which offered €1.26 million for the right to operate Thalassaki over the next five years.
Other major offers included €796,000 from Ktima Demosthenous Ltd and nearly €723,000 from Theotia Tsiala.
Further bids were submitted by Catercom Ltd. (€522,240), A. Zorbas and Sons Ltd. (€514,620), Mak Way Ltd. (€378,000), and DGCON Ltd. (€101,201).
The municipality is now evaluating the offers before deciding who will ultimately take over the operation of one of Limassol's most recognizable seaside snack bars.
For many Cypriots, the figures are striking. While most visitors know Thalassaki as a casual stop for a drink by the sea, the bidding war highlights just how valuable a prime beachfront location has become in a city where tourism, hospitality, and coastal real estate continue to command premium prices.
The lease will run for five years, with the possibility of renewal. If renewed, the agreement allows for an increase of up to 7%.
Limassol Mayor Yiannis Armeftis has previously said the tender includes strict participation criteria aimed at ensuring quality service from experienced operators. He also stressed that price caps on certain products are included in an effort to keep some items affordable for the public.
That could be welcome news for beachgoers who may be wondering whether a million-euro bid could eventually mean paying more for their coffee or sandwich.
For now, the focus is on who wins the lease and whether one of Limassol's most beloved seaside spots is about to enter a new chapter.
