European Prosecutors Launch Investigation into EU Commission's €900 Million Property Deal
European prosecutors have officially opened a comprehensive investigation into the European Commission's controversial sale of twenty-three office buildings to Belgium's sovereign wealth fund two years ago. The European Union's powerful executive branch confirmed the inquiry on Thursday, February 12, 2026, acknowledging that the European Prosecutor's Office (EPPO) is examining the transaction valued at approximately nine hundred million euros, equivalent to one billion US dollars.
Details of the Controversial Property Transaction
The substantial property deal involved Belgium's Strategic Participation Fund (SFPIM) acquiring twenty-three European Commission buildings located throughout Brussels during 2024. According to official statements from the commission, this strategic sale was intended to support the transformation of the European quarter in Belgium's capital into what was described as "a modern, attractive and greener area" that would better serve both EU institutions and the local community.
The European Commission maintains that the entire sales process followed established procedures and protocols, with officials expressing confidence that all transactions were conducted in a fully compliant manner. Despite this assurance, the institution has declined to provide specific details about the nature or scope of the ongoing investigation, citing the need to protect procedural integrity.
Institutional Response and Cooperation Pledges
In an official statement addressing the investigation, the European Commission emphasized its unwavering commitment to transparency and accountability in all its operations. The powerful institution, responsible for proposing EU legislation and supervising its implementation across member states, has pledged its complete cooperation with the European Prosecutor's Office throughout the investigative process.
The commission specifically promised to provide "any information and assistance needed to ensure a thorough and independent investigation into this matter," including full collaboration with relevant Belgian authorities. This commitment extends to the commission's budget department, which according to reports from the Financial Times citing informed sources, was among several commission premises visited by Belgian police during search operations conducted on Thursday.
Prosecutorial Silence and Investigative Activities
The European Prosecutor's Office has maintained a cautious approach regarding the investigation, with spokesperson Lidija Globokar confirming only that prosecutors are currently "conducting evidence-collecting activities in an ongoing investigation." The EPPO, which specializes in investigating crimes against the European Union's financial interests, has declined to provide specific details about the inquiry to avoid potentially compromising ongoing procedures and their eventual outcomes.
This prosecutorial discretion follows established protocol for investigations of this magnitude and sensitivity, particularly when involving high-level EU institutions and substantial financial transactions. The investigation represents one of the most significant examinations of EU institutional property dealings in recent years.
Broader Context and Property Portfolio Implications
The European Commission, which employs more than thirty thousand staff members across its various departments and agencies, continues to maintain ownership of approximately sixty additional buildings throughout Brussels despite the substantial 2024 sale. This remaining property portfolio represents significant ongoing assets for the institution as it continues its daily operations across the European Union.
The investigation comes at a sensitive time for EU institutions, which have faced increasing scrutiny regarding financial transparency and accountability in recent years. The outcome of this probe could have substantial implications for future property transactions involving EU institutions and their relationships with member state investment vehicles.
