Investment in data centres is becoming more mainstream across EMEA, with interest in the sector accelerating as demand from AI, cloud services and digital infrastructure reshapes long-term real estate strategies.

That’s according to Colliers’ 2026 Global Investor Outlook, which points to a sharp rise in capital targeting the sector. According to the report, data centres accounted for 31% of total capital raised globally in Q1-Q3 2025, up from an average of 15% since 2020.

What’s interesting about the increase in capital is that it’s not just happening in the US – where the AI boom has largely been responsible for the country’s economic growth over the past year. That’s because investors in Europe, the Middle East and Africa are also increasingly interested in the sector, as they weigh the long-term attractiveness of digital infrastructure against the practical reality of delivering new capacity.

That interest is especially prevalent in established data centre markets – such as the UK, Germany and the Netherlands – but those are not the sole beneficiary of the recent flurry of investment. In fact, less traditional data centre hubs, such as Southern and Eastern Europe, are also seeing increased interest thanks to some of the constraints that are impacting more established markets. 

How investor interest is linked to data centre constraints

The report argues that infrastructure-linked considerations are now shaping location decisions as much as traditional real estate fundamentals. In hubs such as Frankfurt, Amsterdam and London, demand remains strong, but the ability to secure power – and the timeline to do so – is increasingly the gating factor for both investors and developers.

“Data centres are attracting serious capital,” said Gonzalo Martín, Head of Data Centres Capital Markets | EMEA at Colliers.

“But development is not straightforward. Power availability, land constraints, and regulatory complexity mean data centre investors need deep local insight and long-term strategies.”

Colliers says these constraints are pushing some capital towards secondary and emerging markets, including parts of Southern and Eastern Europe, where governments are investing in digital infrastructure and energy resilience. For investors, the logic is straightforward: if the primary hubs are supply-constrained, new capacity may be delivered faster – and at larger scale – elsewhere, provided connectivity, policy support and customer demand are credible.

That shift is not necessarily a rejection of the established hubs. Instead, it reflects a market where the ‘where’ of development is being dictated by energy and planning realities as much as by proximity to existing clusters.

It’s one of the reasons behind the UK’s AI Growth Zone strategy. The UK Government knows it could lose out on investment if data centres can’t get easy access to power, and by pairing sites with an abundance of power with an easier planning process, it’s hoping it can reap the rewards. 

“Occupiers are seeking data centre solutions that balance resilience, sustainability, and speed to market. Collaboration between operators, landlords and investors is vital to meet evolving requirements and unlock long-term value,” concluded Lottie Tollman, Head of Data Centres Advisory | EMEA at Colliers. 

Other evidence of data centres moving into the ‘mainstream’

While Colliers’ latest report cements the fact that investing in the data centre sector is becoming more mainstream, it’s not the only piece of evidence to suggest that. In fact, we’ve already commented quite a bit on how large investment firms are increasingly investing in the sector – whether it’s SoftBank’s huge spending spree, or BlackRock’s sizable investments in the UK and beyond. 

That increase in investment is why the question is no longer whether the sector will have access to any capital, but as to where it can spend that capital. Countries will be clamouring to have their share of the pie, but unless they can address the constraints that continue to impact the market – such as power and planning – they might just find themselves shut out.