In the first nine months of 2025 in Italy the corporate investments they surpassed the 7,7 billion of euros, +16,7% compared to the same period in 2024, while from the first to the third quarter of the current year theindustrial investments amount to 23 million euros, compared to 1,2 billion in the logistics sector. In the same period, investments in data center stand at 90 million euros. These are some of the data that emerge from the new report "Infrastructure in our country. Between industrial, logistics and data centers", published by the Research & Data Intelligence department of Patrigest – Gabetti Group, This report highlights the profound transformation currently underway in the Italian real estate landscape and highlights how advanced logistics, light industry, and data centers are now the three cornerstones of an infrastructure ecosystem that supports the country's competitiveness.
Secondo Luca Dondi from the Clock, CEO of Patrigest/Gabetti Group: "Next-generation logistics, advanced industrial sectors, and data centers are now the pillars of a new ecosystem that enables intelligent supply chains, digitalization, and the data economy. Italy is gradually aligning itself with the main European markets, and investors recognize these asset classes as a solid opportunity, consistent with the ongoing structural transformations. We are entering a phase in which real estate is no longer just a container, but a critical infrastructure for the country's competitiveness."
The numbers of the report
As mentioned, as of September 30, 2025, corporate investments increased by 16,7% compared to the same period in 2024, reaching €7,7 billion. The industrial and logistics sector accounted for 16% of total investments, with €1,2 billion (-6% compared to the previous year), driven in particular by the logistics sector, supported by technology, e-commerce and globalizationDuring the period, industrial investments amounted to 23 million euros.
Industrial investments in Italy
The volume invested in the industrial segment in the first nine months of 2025 it is equal to 23 million euros, bringing the total corporate investments in the last 5 years to 313 million euros, to which must be added 40 million euros of acquisitions of industrial properties to be demolished to create latest-generation logistics (11% of the total).
"The industrial segment remains deeply tied to the operational needs of businesses," the report emphasizes: 20% of transactions between 2021 and the third quarter of 2025 involved direct acquisitions by occupier companies; 29% involved sale and leaseback transactions, used to raise liquidity and streamline capital, while 98% of investments involved existing properties, a sign of a market focused on optimizing portfolio and owned assets, with only 2% involving land for new developments.
The provinces that recorded the highest investment volumes in the first 9 months of the year were: Ravenna, Milan and Pavia.
Looking at the total of productive real estate transactions (NTN) transactions nationwide, not exclusively for corporate investments, totaled 8.015 units traded in the first six months of the year, compared to 16.715 in 2024 (+6,5% compared to 2023). With an average transacted area of approximately 1.050 square meters, the market remains highly concentrated in Northern Italy, home to the country's main manufacturing districts. This geographical distribution reflects the highly local nature of this asset class, whose real estate assets are closely tied to the operational needs of manufacturing activities.
The logistics
In the last few years Logistics has consolidated as an asset class, with 80% of investments coming from institutional investors and developers, 19% from private equity and private individuals, and a minority share from end-users. Last-mile logistics has grown from 4% in 2021 to 8% in 2025, doubling in importance to meet the growing demand for rapid procurement, especially B2C. In the first nine months of 2025, the main provinces attracting capital were Vercelli, Verona, and Novara.
Europe confirms itself as a dynamic market, driven by growing digital adoption (93% of the population is connected) and the expansion of e-commerce, which continues to grow by 5–7% annually with further acceleration expected in 2025. Inflation has returned to more manageable levels, and e-GDP is expected to increase sharply next year.
Despite digitalization, physical stores remain central to Italy, with 95% of Italians frequenting them. Purchasing behaviors are becoming increasingly hybrid: 83% conduct online research before purchasing in-store, and 64% use Click & Collect services, confirming the growing integration between the digital experience and physical presence.
Data centers
The report confirms the strong emergence of data centers as one of the most relevant asset classes in the Italian landscape, infrastructures that are now strategic for the consolidation of the data economy, which is worth the 2,8% of the Italian GDP and which, according to EU estimates, is expected to grow at an average annual rate of8,1% until 2030.
In the first nine months of 2025, the data center sector in Italy has 90 million raised of euros, representing 36% of alternative investments since 2021, surpassing telephone exchanges (33%). 87% of investments come from US capital, while the domestic one is only 4%.
La Lombardia, and in particular the metropolitan area of Milan, confirms its position as the national epicenter: 40% of the value of pipeline deals is concentrated here, thanks to the combination of mature energy infrastructure, digital interconnections, and a concentration of companies. The average ticket is €68 million for existing properties, €50 million for land earmarked for development, and €33 million for conversion from other uses.
