and taking a hub or metro perspective, the dynamic between tier-1 investments. It can safely be said that they are on their way to (FLAP-D) and tier-2 colocation market becomes more apparent. It becoming additional tie-1 locations. Other tier-2 markets are also shows strong variation in the individual markets. While Frankfurtshowing solid growth but willnot be closing the gap any time soon. They will benefit from the growing regional Al and cloud investments, is steaming ahead, the other tier-1 metropolitan areas are seeing significantly lower growth, well below the expected market averagealso from hyperscale customers, but are only able to compete to a limited extent on the wider international markets. of 17%. Despite strict regulation, Frankfurt has become the de facto colocation data centre capital of the EU after Brexit, attracting more An interesting example, representative of the trend in the Nordics, and more investment. The lack of space in the city of Frankfurt itself is Stockholm. While our research indicated that the annual supply Jamod puo aonds alaym 'bu! puoes bumoie Aiouous p ot pal sy growth for Sweden is expected to average 29%, the Stockholm area itsef only shows moderate growth. Crucially, most Nordic colocation growing faster than market average. Madrid and Milan are clearly renewable power is available in large quantity.