Belgian police and EPPO raid European Commission over €900 million real estate deal
Belgian federal police, acting under the authority of the European Public Prosecutor’s Office (EPPO), conducted raids on the European Commission’s headquarters and the Belgian sovereign wealth fund (SFPIM) on Thursday.
The criminal investigation targets alleged irregularities in the 2024 sale of 23 EU-owned buildings. The portfolio was sold to the Belgian state and subsequently acquired by SFPIM for €900 million.
The focus of the probe
The searches targeted the Commission’s budget department. Investigators are scrutinizing transactions finalized during the previous mandate under former Budget Commissioner Johannes Hahn, who managed the EU's multi-billion euro treasury until 2024.
EPPO spokesperson Tine Hollevoet confirmed the ongoing evidence collection. The prosecutor’s office has declined further comment to avoid jeopardizing the legal proceedings and the eventual judicial outcome.
Institutional red flags
The European Court of Auditors (ECA) first flagged the deal in late 2024. Auditors discovered that SFPIM was the sole bidder and had submitted its offer before the official tender was even launched.
The ECA report also highlighted a critical lack of independence within the evaluation committee. All members were directly subordinate to the official authorizing the sale, creating a potential conflict of interest.
Financial and political fallout
The European Parliament has labeled the "single-bidder" process as "deeply worrying." Lawmakers are questioning why the Commission continues to rent 17 of the sold buildings, with lease costs projected to hit €255 million by 2029.
The European Commission stated that the sale followed all established protocols and expressed confidence in its legality. Both the Commission and SFPIM have pledged full cooperation with the EPPO investigation.
Neither Johannes Hahn nor SFPIM officials have issued a personal response to the search warrants. Belgian prosecutors have also remained silent on the specific criminal charges being considered.
Translation by Iurie Tataru
