The historic Rialto Theatre is entering a new era, as the Council of Ministers has decided to hand it over to the Limassol Municipality, according to information obtained by Politis. The decision is expected to be officially announced in the coming period, marking a significant development for one of the city’s most important cultural institutions.
Terms yet to be announced
According to the same information, the decision concerns a long-term concession agreement covering both the historic building in Heroes’ Square and the management of the theatre.
However, the exact content of the agreement, its terms and the Rialto’s operating status are expected to be clarified through official announcements by the Council of Ministers and the competent ministers.
A request by the municipality
The handover of the theatre was requested by the Limassol Municipality itself. In recent months, a number of organisations and public figures in the city have also spoken publicly in favour of the move.
Just last week, the Rialto Theatre issued a statement expressing its support for the handover to the municipality. It noted that such a development could provide a sustainable solution for its future, while safeguarding its administrative and artistic autonomy.
From the Co-operative to the state
The Rialto Theatre is an integral part of Limassol’s cultural history. The building was constructed in 1930 and originally operated as a cinema, serving for decades as a landmark of the city’s social and cultural life.
In 1991 it was acquired by the Limassol Co-operative Savings Bank, which carried out extensive restoration and renovation work. In 1999 it reopened as a modern cultural venue, hosting theatre performances, concerts, film screenings and international festivals.
In 2018, following developments in the co-operative sector, ownership passed to the state through KEDIPES, the Cyprus Asset Management Company. The theatre has continued its independent cultural activity, receiving financial support.
