Cyprus government transfers Rialto theatre management to Limassol municipality

On October 13, 2026, the Cyprus Council of Ministers approved the finalization of the state's acquisition of the Rialto theatre building in Limassol and its subsequent long-term lease to the Limassol Municipality. This decision follows a request by the municipality and aims to integrate the historical venue into the city's cultural planning while ensuring its future operation. The move marks a shift in the status of the landmark, which was originally established as a cinema in 1930 and underwent restoration after its purchase by the Limassol Cooperative Bank in 1991.

Under the new agreement, the state will provide decreasing financial support to the theatre, allocating €250,000 for 2026, €125,000 for 2027, and €75,000 for 2028, after which all state funding will cease. The municipality is now responsible for appointing a new board of directors to oversee the theatre's administration and potential synergies with local cultural organizations. Regarding the workforce, the 12 permanent employees of the Rialto company will retain their current professional status and benefits as part of the transition. The Deputy Minister of Culture, Klea Papaellina, confirmed that the leasing terms align with standard regulations for properties granted to local government authorities.