Home Markets Vatican reveals property holdings for first time in transparency drive

Vatican reveals property holdings for first time in transparency drive

0

July 24 (Reuters) – The Vatican released information on its real estate holdings for the first time on Saturday, revealing it owns more than 5,000 properties as part of its most detailed financial disclosures ever.

The information was contained in two documents, a consolidated financial statement for 2020 for the Holy See and the first-ever public budget for the Administration of the Patrimony of the Holy See (APSA).

APSA, a sort of general accounting office, manages real estate and investments, pays salaries, and acts as a purchasing office and human resources department.

Between the two documents – each with an unprecedented number of pie charts, graphs and maps – and two explanatory interviews, the Vatican issued more than 50 pages of financial material.

The 30-page APSA budget showed that it owns 4,051 properties in Italy and about 1,120 abroad, not including its embassies around the world.

Only about 14% of its Italian properties were rented at market…

Click here for full article…www.reuters.com