Calls intensify for transfer of Rialto Theatre ownership to Limassol municipality

The management of the Rialto Theatre in Limassol, in coordination with the local municipality, is calling for the immediate resolution of a long-standing ownership issue. The theatre, which has been under state control since 2018 following the dissolution of the Cooperative Savings Bank of Limassol, seeks the acceptance of a municipal proposal to transfer ownership of the building to the Limassol Municipality. The proposal aims to preserve the theatre’s cultural role while ensuring its administrative and artistic independence.

Under the proposed plan, the Municipality of Limassol would assume responsibility for the facility and cover 50% of the theatre's annual operating costs, a move reportedly supported by the Ministry of Finance. Supporters, including Limassol Mayor Yiannis Armeftis and former board chair Kikis Kazamias, argue that the theatre belongs to the people of Limassol. They emphasize that the current uncertainty, marked by two recent postponements of the matter by the Cabinet, hinders long-term planning and operations.

Since its reopening in 1999, the venue has served as a pivotal hub for performing arts in Cyprus, hosting major international festivals. Management notes that current state subsidies account for less than 20% of its budget, and a clearer ownership status is required to secure future funding and stability. The government has yet to finalize its decision.