The data center market is consolidating its position as one of the most dynamic segments of the global and European real estate market looking ahead to 2026, driven by artificial intelligence, cloud demand, and the need for resilient digital infrastructure.

The latest sector studies by international consulting firms such as JLL, CBRE, and Colliers agree that institutional capital is shifting toward digital assets, while the Iberian region is emerging as one of the most significant growth hubs on the continent.

Data centers, among the core assets of the new cycle

According to JLL, the real estate sector is entering a recovery phase characterized by renewed investment in segments structurally favored by megatrends such as digitization and electrification. In this context, data centers stand out for:

• Structural demand exceeds supply in key markets.
• Growing interest from infrastructure funds and private equity.
• Greater integration with energy and climate transition strategies.

In its analysis, CBRE reinforces this view by pointing out that assets linked to the digital economy, including data centers, will be a priority for European investors, thanks to their resilience and long-term contracts.

From Colliers' perspective, investor appetite is reflected in an unprecedented increase in capital raising for the sector, which accounted for around 31% of capital raised globally in 2025, consolidating its position as one of the preferred destinations compared to traditional assets.

AI and high-performance computing drive up technical requirements

In their respective studies, consulting firms emphasize that the widespread adoption of artificial intelligence is transforming the design and location of facilities. Increased rack density, the expansion of liquid cooling, and the need for large volumes of energy are redefining development criteria.

Colliers highlights that the rapid expansion of AI and corporate investment in technology infrastructure are driving global interest in data centers, forcing operators to plan for long-term energy capacity and scalability.

In the Iberian Peninsula, sector analyses suggest that the density of centers specializing in AI could multiply and that advanced cooling will be key to supporting increasingly high loads.

Energy, Europe's main bottleneck

One of the most repeated messages in the analyses is energy constraints as a critical factor. CBRE highlights that power availability will condition the growth of European hubs, while JLL points to the need to accelerate renewable networks and projects.

Colliers agrees that access to energy and infrastructure constraints will remain one of the main challenges for the sector's development in 2026, along with construction and operating costs.

In Spain, network saturation in markets such as Madrid and Barcelona and delays in reinforcing the electricity grid are slowing down projects, forcing companies to explore new locations with better access to energy.

Iberia gains prominence as an emerging hub

Reports agree that secondary markets are attracting attention. In Spain, regions such as Aragon, Extremadura, and the northern corridor are attracting investment due to their access to renewable energy and availability of land.

Colliers emphasizes that Europe, including Spain, remains one of the main destinations for global real estate capital, with increased investor interest due to improved fundamentals and the search for geographic diversification.

The national pipeline far exceeds thousands of megawatts under development, with large projects from hyperscalers and operators seeking to position themselves for future demand.

Furthermore, investment in data centers in Spain is projected to exceed €8 billion in the coming years, reflecting sustained interest from international capital.

Institutional capital and corporate transactions on the rise

Focusing on capital, JLL and CBRE observe an increase in corporate transactions and joint ventures in data center platforms, driven by the search for stable returns, diversification into digital infrastructure, and integration between real estate and energy infrastructure.

Colliers adds that investors are adopting more active strategies, including direct investments and partnerships, to capture value in specialized sectors such as digital assets.

ESG and sustainability as a strategic requirement

Analysts agree that sustainability is no longer optional. The use of renewable PPAs, environmental certifications, and energy-efficient designs is becoming standard practice for attracting capital and hyperscale customers.

Conclusion: a growing market but with structural challenges

The consensus among major real estate consulting firms and regional data points to a clear scenario:

• Structural growth driven by AI and the cloud.
• Lack of capacity and energy as the main obstacle.
• Greater technical and financial sophistication of the sector.
• Emergence of new hubs in southern Europe.

As digitization accelerates and demand for intensive computing skyrockets, data centers are consolidating their position as critical infrastructure for the European economy, placing them at the center of investment and territorial planning strategies for the coming years.

The overview of the sector and the future of investment in this sector will be one of the hottest topics on the agenda of the INVESTMENT, DESIGN & CONSTRUCTION THEATRE auditorium at Data Centre World. Leaders from real estate consulting firms, investment strategies, and key decision-makers in the sector will discuss this at the Tech Show Madrid 2026, November 4 and 5, at IFEMA.