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According to JLL’s latest EMEA Data Centre report, 2023 will be a record year for data centre growth in Europe. The total size of the region’s leading data centre hubs of Frankfurt, London, Amsterdam, Paris and Dublin (FLAP-D) is set to grow by 17% year-on-year, with an additional 432MW of supply added. This year is also seeing strong demand for data centres, with 392MW of take-up expected, a 32% increase from 2022.
The shift towards hyperscale development, rising to 83% of all transactions in 2022, is also expected to continue throughout 2023. JLL forecasts strong growth following 482 MW of pre-lets signed in 2022, with the majority of these schemes due to come online over the next 12 months.
Of the major markets, London will retain its position as the largest and most mature data centre hub in Europe and will see 122MW of new supply added. Frankfurt is set to continue to grow rapidly with 118 MW forecast to be added in 2023, a 20% increase year-on-year.
Tier two markets coming to the fore
While new supply will continue to be added to the FLAP-D markets, Madrid and Berlin are emerging as popular locations for developers and operators. JLL forecasts that total supply in Madrid will double in 2023, with 35 MW to be added. Demand will also increase threefold to 28 MW underlining the city’s exceptional growth. Berlin will continue to see high levels of activity, with 52 MW of new supply to come online later in 2023 and 42 MW of take up.
Tom Glover, Head of EMEA Data Centre Transactions, JLL, said: “The data centre industry continues to show incredible resilience in what is a very challenging market. Demand across Europe’s core markets continues to outstrip supply, but challenges in securing prospective sites and sustainable power sources are leading growing interest in the region’s secondary markets.”
Daniel Thorpe, Senior Research Analyst, EMEA, JLL, added: “2023 is set to be another record year for activity in the market. Data centre growth will be underpinned by continued enterprise transition to the cloud, growth in new technologies such as AI, growing user demand for low latency streaming and gaming; and the further expansion of 5G networks.”
