Belgium may raise EUR 250 mln with office sales

The Belgian government plans to raise between EUR 200 mln and EUR 250 mln through the sale of office buildings in a sale-and-lease back agreement, Belgian newspaper De Tijd reported. The government will retain a 10% stake in the sold buildings. The transactions are expected to close before the elections in June 24, 2007.

The Belgian government plans to raise between EUR 200 mln and EUR 250 mln through the sale of office buildings in a sale-and-lease back agreement, Belgian newspaper De Tijd reported. The government will retain a 10% stake in the sold buildings. The transactions are expected to close before the elections in June 24, 2007.

In 2006 the property investment company Befimmo acquired a government portfolio providing EUR 576 mln in much-needed revenue for the government. Befimmo and Cofinimmo are likely to be investors in the portfolios that are planned to be sold this year, researchers at merchant bank Kempen & CO said.

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