Cabinet approves leasing of Rialto Theatre to Limassol Municipality

On October 13, 2026, the Cyprus Cabinet formally approved the completion of the state’s acquisition of the historic Rialto Theatre building in Limassol, subsequently authorizing its lease to the Limassol Municipality. This decision follows months of negotiations and follows the postponement of the matter in two previous cabinet sessions. The move was welcomed by municipal authorities and the theatre's board of directors, who had long advocated for the change in management.

Under the new agreement, the state will retain ownership while the municipality assumes management, focusing on cultural strategy and local artistic development. The government has committed to a tapering funding schedule, providing €250,000 for 2026, €125,000 for 2027, and €75,000 for 2028, after which state funding will cease. The 12 permanent employees of the theatre will retain their current status and benefits as part of the transition process.

The municipality is now tasked with appointing a new board of directors to foster synergies with local cultural organizations. Officials noted that the transition aims to ensure the venue's operational autonomy and future sustainability, marking a new chapter for the landmark which has served as a cultural hub in Limassol since its origins in 1930.