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JLL publishes its Global Real Estate Outlook 2025 mid-year update on July 21, 2025, outlining sector-level risks and opportunities and highlighting specific deals and financing supporting data center and logistics expansion.

• Mid-year update and key deals: JLL reports Blackstone’s £10 billion mega data center in North-East England has been approved with construction expected to begin later in 2025, and the Universities Superannuation Scheme has committed up to £250 million to the scheme; JLL Capital Markets arranged more than $1.2 billion of construction financing to support The BlackChamber Group’s data center expansion in Northern Virginia (four hyperscale powered shell campuses designed to deliver over 740 megawatts of capacity). The report also notes real estate investment in Japan exceeded 2 trillion yen in Q1 2025 (a 23% year‑on‑year increase).
• Drivers, timelines and implementation details: The update frames outcomes around trade and tariff policy volatility, rising construction costs, and supply shortages (notably data centers). It recommends energy audits and retrofit feasibility studies as 2025 priorities to drive decarbonization and energy security, and notes technology (including AI integration into building management and portfolio planning) as a factor in mitigating obsolescence. Specific implementation timelines: Blackstone construction slated to start later in 2025; USS committed up to £250m to the English scheme; JLL-arranged $1.2bn financing will fund development of four hyperscale campuses in Northern Virginia.