Limassol Municipality to lease Rialto Theatre following state acquisition

The Cyprus Council of Ministers has approved the state acquisition of the Rialto Theatre building and its subsequent lease to the Limassol Municipality. This decision establishes the framework for the management, operation, and funding of the theater.

Under the new arrangement, the Limassol Municipality will oversee the appointment of a new board of directors to foster synergies with local cultural entities. Regarding personnel, Deputy Minister of Culture Clea Papaelina stated that the employment status, benefits, and working hours of the 12 permanent employees of the Rialto company are intended to remain unchanged within the new entity created by the municipality.

To support the transition, the government has approved a series of grants: €250,000 for 2026, €125,000 for 2027, and €75,000 for 2028. No further state subsidies will be provided after 2028.