The "vatican real estate" reached a net worth of almost 1,000 million euros

The office that manages the movable and immovable property of the Holy See reported that it manages 4,086 properties directly with rentals or other types of formats and another 147 through companies in Italy and 1,123 properties between England, Switzerland and France under management of firms created at the beginning of the 20th century.

In addition, the organism has 9.3 million square kilometers in land under its management within Italian territoryraised in an interview with Vatican media the president of the organization, the Italian Cardinal Nunzio Galantino.

According to Galantino, the real estate property management granted benefits of almost 21 million euros in 2021, one toincrease of 5.5 million compared to the previous yearfor a positive balance that, also including personal property, reaches 38 million euros.

“All the income from this management is used for the mission of the Church, that is, for the expenses, also, of the Curia”, Galantino specified.

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The disclosure of the balance, published for the second consecutive year after several years without information, was defended by Galantino as an act of greater transparency of the body.

“It is not that the APSA has not prepared its budget before or that the budget has not been submitted for analysis and control. The moment of publication, the moment of communication, was missing. An important moment to offer to those who want to know them sufficient elements to formulate an informed judgment and avoid saying trivialitieslike the ones we sometimes hear, about the Church’s real or personal property,” he said.

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In late 2020, Pope Francis increased controls over the Holy See’s finances and took control of charitable funds away from the Secretary of State, following scandals over alleged irregularities in real estate transactions that led to the prosecution of five officials and at the start in 2021 of the first trial against a cardinal.

Starting January 1, 2021 “funds and bank accounts, investments, securities and real estate, including investments in companies and mutual funds” of the Holy See ceased to be administered by the Secretary of State and passed into the hands of the APSA, the entity that manages the Vatican buildings.

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