Prosecutors investigate the EU's executive branch over the sale of buildings to Belgium 2 years ago

Prosecutors have opened an investigation into the European Commission’s sale of 23 of its buildings to Belgium where it has dozens of premises, the European Union’s executive branch said on Thursday.

Belgium’s sovereign wealth fund SFPIM bought the buildings for around 900 million euros ($1 billion) in 2024 to help transform the European quarter of the capital, Brussels, “into a modern, attractive and greener area,” according to the European Commission.

The commission said in a statement that “the sale of the buildings followed established procedures and protocols, and we are confident that the process was conducted in a compliant manner.” It didn't provide details about the investigation.

The institution underlined that it “is committed to transparency and accountability,” and promised to fully cooperate with the European Prosecutor’s Office, or EPPO, which investigates crimes against the EU’s financial interests.

The commission, which proposes EU laws and supervises the way they are applied, promised to provide “any information and assistance needed to ensure a thorough and independent investigation into this matter,” including with Belgian authorities.

The EPPO also declined to provide details about the inquiry so as “not to endanger the ongoing procedures and their outcome.” Spokesperson Lidija Globokar said only that prosecutors were “conducting evidence-collecting activities in an ongoing investigation.”

The Financial Times, citing “two people familiar with the operation,” reported that Belgian police conducted searches of different commission premises on Thursday, including the EU executive branch’s budget department.

The commission, which employs more than 30,000 people, still owns around 60 buildings in Brussels.