According to a report by Savills, "Data centers are now one of the most attractive asset classes for investors. The increasing demand—driven by tech giants and AI startups competing for prime locations—has enabled real estate companies to command high rental rates and secure long-term leases."
This investment boom is further supported by strong rental growth, low vacancy rates in the EMEA region at just 5%, and a robust appetite for investment from institutional players. Despite rising interest rates, pension funds, private equity firms, and infrastructure investors continue to direct capital toward the sector, drawn by its long-term stability and promising returns.
Savills' analysis reveals that private investments in the data center sector reached a global record of €99 billion, more than three times the amount of the previous year.
As of early 2025, around 2,870 MW of new data center capacity is under construction across the EMEA region, with nearly 64% of this capacity pre-leased, primarily by cloud providers and, increasingly, AI companies. Looking ahead, Savills predicts strong investment prospects for European data centers, with demand for capacity expected to continue growing, driven by AI workloads, cloud service expansion, and the digital transformation of industries.
Investments in Greece
Greece has quickly become a key hub for the data center industry, attracting major tech companies to invest in large-scale projects across Athens, Thessaloniki, and Crete. Microsoft’s first data center in Spata, with a capacity of 19.2 MW, is currently under construction, with the total investment estimated at €200 million, of which nearly €80 million will be allocated to the building infrastructure.
Meanwhile, Google has announced investments of up to €2 billion by 2030 to enhance the speed and efficiency of its cloud services for Greek businesses.
Digital Realty is also advancing its presence in Greece, with plans to launch its first data center in Heraklion, Crete. The company has already developed three data centers in Greece and is progressing with the development of two more: Athens 4, currently under construction, and Athens 5, still in the planning phase.
Lastly, ADMIE is making a significant entry into the market with the announcement of its first data center in Kryoneri, Attica. This 40 MW project will be executed by Gemini, a joint venture between ADMIE and the American company Serverfarm.
