Belgian government buys 23 office buildings in Brussels for €900m

The Belgian government, through its sovereign wealth fund Federal Holding and Investment Co. (SFPIM), has purchased 23 buildings from the Commission for €900 million ($971 million). This operation will allow a transformation of the European quarter into a modern, attractive and greener area where office buildings coexist harmoniously with dwellings, retail and leisure, according to the release.

The sale will play a significant part in the Commission's efforts to reduce its office surface by 25 percent by 2030, thereby modernizing and greening its real estate and reducing its carbon footprint. This would also create economies of scale by regrouping staff in fewer, larger and more energy-efficient buildings. Moreover, replacing older buildings with modern and flexible offices also increases the attractiveness of the Commission as an employer and aligns its office needs with the new hybrid