San Francisco Frontiers - Belgian police raid EU commission in real estate probe

A spokesman for the EU executive said it was "aware of an ongoing investigation" into the sale of 23 commission buildings, and was "confident that the process was conducted in a compliant manner".

Valued at 900 million euros ($965 million at the time, equivalent now to $1.1 billion), the sale came as the commission moved to shrink its office space by a quarter with more staff working from home since the Covid pandemic.

Searches were carried out at commission premises early on Thursday, a source close to the investigation told AFP, confirming a report by the Financial Times.

The European Public Prosecutor's Office (EPPO) confirmed only that it was "conducting evidence-collecting activities in an ongoing investigation" involving the commission.

The commission said it was "committed to transparency and accountability and will cooperate fully with EPPO and the competent Belgian authorities on this issue".

The properties in question were acquired by a Belgian sovereign wealth fund, which planned to renovate them so they are more sustainable and put them back on the market as businesses and housing.

Brussels wants to transform the European Quarter where most EU institutions are located so that it becomes more people-friendly.

For the commission, the sale went towards the aim of occupying fewer buildings, which are more energy-efficient, as its need for office space declined post-pandemic.

The EPPO is the independent public prosecution office of the EU, responsible for investigating crimes against the bloc's financial interests.

G.Miller--SFF