I
n a recent Vatican real estate deal, it appears that Rome may have been taken advantage of by the Holy See. The Vatican purchased three properties in the upscale Monteverde neighborhood for around $45 million, significantly below market value. The properties were previously owned by the Province of Rome and had been used as government offices, a library, and a clinic.

    The Vatican claimed it was buying the properties to expand its pediatric hospital, Bambino Gesù, but so far, they remain vacant. According to reports, the deal may have been made possible because Roman authorities sold the properties on the cheap in order to support the work of Bambino Gesù. However, there are concerns that the properties may not be suitable for a hospital due to their location and separation from each other.

    Public documents show that the bidding process began in 2016, but no satisfactory bids were received, leading to a private sale. The Vatican's Administration of the Patrimony of the Apostolic See (APSA) was the actual purchasing agent, and it has plans to extend extra-territorial status to the properties by 2024.

    An Italian citizens' group has launched a protest against what they claim is a sweetheart deal that may not deliver on its promise of improved healthcare. The uncertainty surrounding the three buildings comes as the Vatican is reportedly negotiating the purchase of Rome's former Carlo Forlanini Hospital, which could be sold for around $77 million.

    However, estimates suggest it would cost over $500 million to repair and update the facility, making the proposed sale price "trifling." Grassroots groups have also expressed concerns that transferring a public facility into private hands could lead to the loss of pediatric care in Rome and create competition with nearby hospitals.