Belgium buys 23 office buildings from the European Commission

The total cost of the acquisition and transformation work is estimated at almost 2 billion euros. Cityforward, managed by Brussels-Antwerp company Whitewood, has raised the necessary funding from various investors, including finance& and Ethias.

Brussels, the only region where property prices fell in 2023

The project aims to respond to the “strong demand” for sustainable offices and housing in the European quarter. Around 750 to 800 new apartments will be added to the area thanks to this project. The first permits should be obtained in 2026, and from 2028 the first new residents and office occupants will be able to move into these premises.

“Through this transformation, we are strengthening our capital’s position as the heart of Europe and responding to the strong demand for diversification and further housing in the European quarter,” emphasized Laurence Bovy, Chairman of the Board of SFPIM.

This new acquisition will also allow the European Commission to “permanently establish itself in sustainable buildings at the cutting edge of technology. On the other hand, it will encourage the arrival of new residents by reintroducing quality housing at affordable prices and creating new services – such as a school or local shops – to meet their needs,” added Philippe Lallemand, CEO of Ethias.

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