Growing real estate challenges
The hotel, healthcare and data center sectors jointly recorded an investment volume of 1.5 billion euros in 2025. Within this total, hotels and healthcare real estate showed the strongest growth. This expansion gave the market additional momentum, although it was driven largely by two exceptional transactions: the sale of the RCN Vakantieparken and the transaction between Aedifica and Cofinimmo. These deals had a significant impact on the annual total but do not reflect structural volume growth.
Activity in the data center market remained limited in 2025. The lack of new supply held back deal activity, with grid congestion, lengthy permitting procedures and high investment costs playing an important role. Despite the muted activity, the substantial investment agenda for the Netherlands, as outlined in the Wennink Report, provides a clear outlook for future growth. Data centers will benefit directly from this, and the same trend is expected to create opportunities for other infrastructure-like real estate categories.
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