Belgian federal police have carried out searches at multiple European Commission offices in Brussels as part of an investigation into the 2024 sale of EU-owned properties worth approximately €900 million.
The operation, conducted at the request of the European Public Prosecutor’s Office, included premises linked to the Commission’s budget department. The investigation concerns the divestment of 23 buildings to Belgium’s sovereign wealth fund, Société Fédérale de Participations et d’Investissement (SFPIM).
The transaction took place during the previous Commission mandate, when Johannes Hahn served as Commissioner for Budget and Administration. Hahn, who oversaw the EU’s €1 trillion budget until 2024, currently holds the position of EU Special Envoy for Cyprus.
Focus on period under Hahn
The probe does not at this stage imply wrongdoing by Hahn. However, the timing places the transaction squarely within his portfolio as the official responsible for budgetary oversight and asset management.
Following the end of his Commission mandate, Hahn was appointed EU Special Envoy for Cyprus, a role that gives him political visibility in the region amid ongoing diplomatic efforts on the Cyprus issue.
The investigation therefore carries particular sensitivity, as it concerns decisions taken under a figure who now represents the EU in a high-profile external capacity.
What the investigation concerns
According to sources cited by the Financial Times, investigators are examining whether transparency rules, procurement procedures, valuation standards or competition principles were breached during the sale process.
At the time of the transaction, the Commission described the deal as part of a broader real estate optimisation strategy. The objective was to reduce underutilised or ageing office stock in Brussels, cut long-term costs and adapt to post-pandemic working patterns.
The EU executive has set a target to reduce occupied office space by 25 percent by 2030, consolidating staff into fewer, more modern buildings.
A Commission spokesperson said the sale followed established procedures and complied with EU financial regulations, including public tender requirements. The institution has pledged full cooperation with EPPO and Belgian authorities.
EPPO involvement underscores seriousness
The involvement of the EPPO, the independent EU body established in 2021 to investigate fraud affecting the bloc’s financial interests, signals the institutional weight of the inquiry.
In a brief statement, EPPO confirmed that “evidence-collecting activities” are ongoing but declined to provide further details to avoid jeopardising proceedings.
No charges have been announced and the probe remains at an early stage.
Belgian federal police and the EU’s anti-fraud office OLAF declined to comment. SFPIM has not issued a public statement.
Sources: Financial Times, eualive.net, AFP, Reuters