A Powerful Economic Engine
European institutional investors and managers hold nearly € 2.9 trillion of commercial property as investment. In 2023, the sector contributed €523 billion in Gross Value Added (GVA), approximately 2.9% of the total EU economy. This is more than the combined contributions of the auto manufacturing and telecommunications sectors. The real estate industry directly employs 4.4 million people, equivalent to banking, underscoring its significant role as a job provider. Spending on new commercial buildings (excluding housing) and refurbishing and developing existing ones accounts for 11% of all fixed capital investment in the EU and UK economies.