EMEA Data Centre Report Q4 2024

DeepSeek's AI efficiency breakthrough, while impressive, is unlikely to dramatically impact data centres. Instead, it may accelerate innovation and broaden AI accessibility, potentially increasing data centre demand long-term. AI only accounts for about 25% of current data centre workloads, with core functions like cloud computing and data storage remaining essential. Major companies continue to invest heavily in multi-year data centre projects, with expected capex spending on AI data centre buildout surging for 2025. The global data centre market is projected to grow at a 15% CAGR through 2027, with the EMEA region forecasted to outpace global growth at a 25% CAGR over the next three years.

1. Pre-lets continue increase at a rapid pace, we saw 702MW secured across the FLAP-D markets almost double the total of take up seen in 2024 and a 37% increase on 2023.
2. Take up in 2024 hit 344MW while new supply added was 306MW. We have seen take up outstrip supply for the last couple of years, resulting in falling vacancy rates and upward pressure on rents.
3. We saw the amount of MW added to the core European markets fall, with 306MW added to FLAPD in 2024 compared to the 391MW in 2023. Frankfurt and London saw sizeable growth in 2024; however Paris and Amsterdam saw significant drops in new supply.
4. While new supply slipped behind 2023, we saw future and planned capacity grow. JLL estimates there is currently 1.5GW in development and a further 2.3GW in the planning stages. We are also seeing significant planning activity in the secondary markets of Milan, Madrid and Berlin.
5. EMEA region is forecasted to outpace global growth with a remarkable 25% CAGR over the next three years.

Download the full report for more details