Belgium buys 23 Brussels office buildings from EU for €900 million

The European Quarter
The European Quarter

Belgium’s Sovereign Wealth Fund has bought 23 Brussels office buildings from the European Commission for €900 million.

The European Commission says the Brussels office buildings deal will create a more modern, greener and more diversified European quarter.

The Federal Holding and Investment Company (SFPIM) says it will renovate the buildings to become more sustainable and will use them for businesses, housing and services.

This sale will help the Commission reduce its office surface by 25% by 2030 and create economies of scale by regrouping staff in fewer, larger and more energy-efficient buildings and cut its carbon footprint.

Replacing older Brussels office buildings

Replacing older buildings with modern and flexible offices will also increase the attractiveness of the Commission as an employer and align its office needs with the new hybrid way of working.

The SFPIM and the Brussels Capital-Region are providing more housing and community-based services in the European quarter.

The Federal government aims to make Brussels the green capital of Belgium.

Johannes Hahn, Commissioner for Budget and Administration, says, “In its buildings policy, the Commission aims to use each square metre more intelligently (to reduce the number of square meter and buildings needed) and make each square metre greener. With this sale, we continue to modernise and green the Commission in Brussels. The sale will help us achieve our objectives to reduce the number of buildings by 50% and our surface by 25%. This should also contribute to the transformation of the European quarter by giving a new life to the buildings we are selling.”

Vincent Van Peteghem, Deputy Prime Minister and Minister for Finance of Belgium, says, “Belgium has been the home of the European Commission since decades. As minister of Finance I am proud that the Commission decides to prolong this partnership and to make work of a sustainable housing of its departments in Brussels. Together with the Belgian wealth fund SFPIM, Belgium will aid this important project and provide co-financing as the country recognizes the importance of the presence of the Commission in the heart of Europe on Belgian soil. With this public-private project, we strengthen this partnership for the long term.”

The image of the European Quarter, by Leon Yaakov, on flickr, is reproduced under Creative Commons.

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