The Rialto Theatre passes to the Limassol Municipality, following the decision of the Council of Ministers to approve the completion of the process of acquiring the building by the state and its lease to the Municipality, while defining the framework for the administration, operation and financing of the organization.
The new arrangement is now called upon to ensure the continuity of Rialto's artistic activity, the autonomy of the organization and its viability in an environment of gradual withdrawal of state funding.
The decision was announced after the session by the Deputy Minister of Culture Klea Papaellina, while the mayor of Limassol, Yiannis Armeftis, spoke of "a great day for Limassol and its culture", announcing that the historic theater passes to the Municipality.
The development comes after successive efforts to settle the ownership status of the Rialto, which is an important cultural infrastructure of Limassol and hosts important institutions and events of contemporary Cypriot culture.
The Cabinet approved a state grant of €250,000 for 2026, €125,000 for 2027 and €75,000 for 2028, according to the request of the Limassol Municipality. After 2028, no further state sponsorship is planned.
The gradual reduction of funding is one of the most important parameters of the new arrangement, as it creates the need to design a sustainable economic model for the operation of the theatre, given its importance for the cultural life of Limassol and Cyprus.
What is provided for management and employees?
The Cabinet also approved the promotion of the necessary procedures by the Limassol Municipality for the appointment of a new board of directors of the Rialto company. As Klea Papaellina mentioned, the aim is to make it possible to develop synergies with cultural institutions and schemes of the Municipality.
Special reference was made to the 12 permanent employees of the company. According to the Deputy Minister, the goal is not to change their employment status and to maintain all their employment benefits, as well as their hours of employment in the new company, in which the Limassol Municipality will be the sole member.
The relevant procedures will be promoted by the board of directors and the Municipality, in cooperation with the Department of Public Administration and Personnel of the Ministry of Finance.
"The Rialto belongs to Limassol and the people of Limassol"
In his post, the mayor of Limassol, Yiannis Armeftis, welcomed the decision, noting that the theater, inextricably linked to the history and cultural identity of the city, opens a new chapter in its course.
"Today's development proves something else: When the city's institutions join forces, cooperate and claim with a common voice, the desired results come," he said, thanking the government, the Minister of Finance Makis Keravnos, the Deputy Minister of Culture Klea Papaellina, as well as the board of directors of Rialto and its president, Daphne Pitta.
