The growth of the data center market in the EMEA region requires £422 billion ($567bn) in development capital, according to a report by property consultancy Knight Frank.

The EMEA Report covers developments in the first three quarters of 2025. Markets surveyed include Frankfurt, London, Amsterdam, Dublin, Paris, Madrid, Milan, the UAE, and Johannesburg.

By Knight Frank’s estimations, the region’s aggregate supply, which refers to data center projects that are live, under construction, committed – developments which have secured all necessary elements like energy and land but have not begun construction – and in their early stages, has reached more than 50GW. This is a 27.8 percent year-on-year (YoY) increase.

Of this 50GW, live capacity stands at 11.3GW, meaning most of the region’s aggregate supply is constituted by projects in the pipeline.

Demand remains high, with colocation vacancy rates standing at around 9.5 percent. The rate drops lower as capacity requirements increase, with just 2.9 percent vacancy for requirements above 5MW.

The report noted that 55.2 percent of projects under construction and 22.1 percent of committed projects are currently pre-leased, with the highest rates of pre-leasing in Dublin, Milan, and London.

Most of the region’s 1.1GW worth of take-up has been driven by public cloud demand, which accounted for 61 percent of activity. Artificial Intelligence (AI) contributed around 12 percent.

London remains the largest market in the region with a live IT capacity of 1.4GW and an aggregate capacity of 5.1GW.

Paris is EMEA’s premier growth market, with aggregate capacity rising 75.1 percent YoY to almost 3.4GW.

Frankfurt leads the region when it comes to leasing activity, with over 207MW of take-up over the past year.

Knight Frank’s head of data centers, Stephen Beard, said that “the story of 2025 so far is one of scale colliding with scarcity.

“We are seeing record levels of supply delivered and planned across EMEA, yet demand from AI and cloud is growing even faster. Markets like Paris, London, and Frankfurt are expanding at pace, but vacancy rates and pre-leasing levels reveal just how little truly available capacity remains.”