Limassol welcomes cabinet decision to lease Rialto theatre to municipality
The cabinet has decided to complete Rialto theatre’s acquisition and lease it to Limassol municipality, while the government retains ownership.
Limassol, Cyprus. Limassol municipality welcomed on Tuesday the cabinet’s decision to finalise the acquisition of Rialto theatre and lease the venue to the municipality. It described the decision as a landmark development for Limassol and its cultural life.
Ownership and management
Under the cabinet decision taken on Tuesday, ownership will remain with the government, while the municipality will lease the historic theatre. The arrangement will include clear rules governing its management, operations and financing.
Calls for the municipality to take over Rialto had grown earlier this month.
Cultural role and transition
The municipality said Rialto had deep connections with Limassol’s past, identity and cultural growth. For decades, it said, the theatre had provided a space for artistic expression and public gatherings, with an influence reaching beyond Limassol.
“The decision confirms the strength of cooperation and the collective efforts of the city’s stakeholders,” it said.
The municipality said the arrangement marked a fresh phase for Rialto and improved its capacity to advance a comprehensive cultural strategy, widening opportunities for people to participate and access culture.
It committed to ensuring an orderly transition, safeguarding Rialto’s heritage and reinforcing its role as an active cultural centre accessible to artists and the general public.
From cinema to state ownership
Built in 1930 as a modern cinema, Rialto went into decline during the 1980s. The Limassol cooperative bank purchased it in 1991, restored the building and reopened the venue in 1999.
The theatre passed into state ownership in 2018 following the cooperative’s dissolution.
This news item was generated automatically by Cyprus Inform from publicly available materials. Report an error →