European district for mixed-use projects: Belgian state buys office space

Belgian state buys 23 buildings for redevelopment

The Belgian State, through its sovereign wealth fund SFPIM, has acquired 23 office buildings formerly owned by the European Commission in the European district of Brussels. This vast portfolio, valued at 880 million euros, will be transformed into mixed-use projects comprising sustainable offices, shops, facilities and housing. The conversion of these buildings is expected to double the number of families living in the heart of the European Quarter by 2028. The total cost, including conversions, is estimated at around 2 billion euros.

Quartier européen: 800 homes by 2028 with SFPIM

The project to convert the buildings purchased by the Belgian State in the European Quarter aims to meet the growing demand for housing and diversify the use of the space. Twenty-one of the buildings will be converted into sustainable offices, shops and housing, while two others will be converted solely into apartments. The first building permits are expected in 2026, with an architectural competition scheduled for May. The transformation of the buildings should enable the European Commission to move into a more sustainable infrastructure and encourage the arrival of new residents.