Vatican Reveals Over 5,000 Property Holdings For The First Time
The information has been revealed ahead of an upcoming embezzlement trial.
The post Vatican Reveals Over 5,000 Property Holdings For The First Time appeared first on LUXUO.
Image: Fabio Fistarol / Unsplash
The Vatican has revealed its real estate holdings for the first time, detailing over 5,000 church and investment properties around the world.
The information was recorded in the Vatican’s most detailed financial disclosure yet, released on Saturday (24 July). Per Reuters, the details about the property holdings were contained in two documents: a consolidated 2020 financial statement for the Holy See and the first-ever public budget for the Administration of the Patrimony of the Holy See (APSA).
READ MORE: Vatican Opens Castle Gandolfo To Visitors
The latter document reveals that the Vatican owns 4,051 properties in Italy. According to Forbes, the majority of these are used by church-affiliated groups or leased out at below-market rates. The budget also revealed that APSA owns properties as investments outside of Italy, including London, Geneva, Lausanne, and Paris.
Pope Francis. Image: Ashwin Vaswani / Unsplash
Forbes notes that this list includes an investment property in London’s upscale South Kensington district which “controversially sank more than $400 million” almost a decade ago. 10 people are set to undergo trial for this case starting Tuesday (27 July), including prominent Cardinal Angelo Becciu. Some of the charges the group face includ...
The post Vatican Reveals Over 5,000 Property Holdings For The First Time appeared first on LUXUO.
Image: Fabio Fistarol / Unsplash
The Vatican has revealed its real estate holdings for the first time, detailing over 5,000 church and investment properties around the world.
The information was recorded in the Vatican’s most detailed financial disclosure yet, released on Saturday (24 July). Per Reuters, the details about the property holdings were contained in two documents: a consolidated 2020 financial statement for the Holy See and the first-ever public budget for the Administration of the Patrimony of the Holy See (APSA).
READ MORE: Vatican Opens Castle Gandolfo To Visitors
The latter document reveals that the Vatican owns 4,051 properties in Italy. According to Forbes, the majority of these are used by church-affiliated groups or leased out at below-market rates. The budget also revealed that APSA owns properties as investments outside of Italy, including London, Geneva, Lausanne, and Paris.
Pope Francis. Image: Ashwin Vaswani / Unsplash
Forbes notes that this list includes an investment property in London’s upscale South Kensington district which “controversially sank more than $400 million” almost a decade ago. 10 people are set to undergo trial for this case starting Tuesday (27 July), including prominent Cardinal Angelo Becciu. Some of the charges the group face includ...
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