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Supply to match demand in top European data centre markets this year

Isha Jain by Isha Jain
November 20, 2023
in Colocation, Data Centres, News
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New colocation data centre supply is set to match demand in the largest European markets tracked by CBRE this year, as providers look to satisfy hyperscalers’ appetite for space.

According to new research from CBRE, there is 572MW of new supply expected across the Frankfurt, Paris, London, Amsterdam and Dublin (FLAPD) markets in 2023, with an equal amount of take-up expected to for the same period.

The annual forecast is reflective of a strong third quarter for the colocation data centre industry. Take-up soared to 215MW in Q3 2023, nearly quadruple that of the previous quarter (54MW), largely due to pre-let capacity that was delivered in Amsterdam and Frankfurt.

CBRE predicts Q4 2023 take-up to exceed this, as a number of sizable data centres in Paris, Frankfurt and London are expected to open before the end of the year. As a result, new supply (283MW) and take-up (265MW) levels in the FLAPD markets are likely to reach record highs in the final quarter.

CBRE’s Head of Data Centre Research for Europe, Kevin Restivo, says that hyperscaler buying patterns are changing but demand should remain strong. “Hyperscalers’ requirements are becoming more specific and sales cycles are longer. However, the need for greater amounts of capacity to ensure future needs are met and keeping capacity away from competitors remains.”

Beyond the FLAPD markets, Madrid, Milan, Warsaw and Zurich are expected to account for a large proportion of the 101MW predicted take-up in Europe’s secondary markets this year.

Andrew Jay, Head of Data Centre Solutions at CBRE, adds, “With the exponential growth of AI, it’s unlikely that demand will slow down anytime soon. The challenge remains in the lack of available power and AI-appropriate facilities across Europe.”

Tags: CBREColocationdata centerData CentredemandeuropeResearch
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