We are expanding our portfolio and setting our sights on data centers, a forward-looking asset class. Since May 1, Holger Uhlemann has been in charge of the key account at LIST Bau Holding—with the clear goal of strategically developing this segment. In this interview, he explains what makes data centers so special, what’s important when entering this market, and why LIST Bau is ideally positioned to take this step.
Holger, you've been in charge of the Data Center division at LIST Construction since May. What appeals to you about this asset class?
H. U.: Data centers are challenging in the best sense of the word. The buildings are technically extremely demanding—the interplay between construction and building services is much more closely integrated than in other asset classes. That’s exactly what makes it so appealing: You have to think interdisciplinarily, coordinate processes precisely, and still remain agile. For me, this is exactly the kind of project that’s fun—complex, dynamic, and forward-looking.
LIST is deliberately breaking new ground with this initiative. What’s the plan for getting started?
H. U.: Our goal is to develop this asset class strategically and sustainably. As a first step, we’re focusing on acquiring a select core-and-shell project—ideally as a partner in a joint venture or as a subcontractor. This will allow us to specifically leverage our strengths in complex building construction projects and gain further experience. At the same time, we’re assembling a team of specialists trained to meet the specific requirements of data centers.
What distinguishes data centers from other types of real estate?
H. U.: The biggest difference lies in the technology. Building services account for up to 75 percent of the construction volume—that’s a completely different balance than in traditional building construction projects. Added to this is a very fast pace on the construction site: Each floor may require its own foreman. This necessitates a different, even more complex organizational structure than on “traditional” construction sites. On top of that, there are the highest possible standards for safety and health protection on the construction site—the absolutely safe execution of all processes is the top priority for clients. From a technical standpoint, the high technical requirements—for example, in building automation, access control, and climate control—make every data center project an exciting challenge.
How can LIST Construction excel in this demanding environment?
H. U.: We already bring a wealth of expertise to the table that is crucial in this segment: Our experience in BIM modeling and LEAN management helps us manage these complex processes efficiently. Our existing network of subcontractors also works to our advantage, as we can draw on strong, local partners nationwide. Added to this is our high level of engineering expertise and, not least, LIST Eco’s know-how in the area of sustainability—a topic that is also hugely relevant for data centers. And: Many potential clients have an international presence. Here, we benefit from existing relationships in other asset classes and our experience working with globally active partners.
What are the next concrete steps?
H. U.: In the coming months, we’ll continue to expand the team, deepen our network—for example, through our partnership with the German Data Center Association—and focus specifically on building expertise. I’m very much looking forward to shaping this journey together with LIST Construction. For me, one thing is clear: Data centers are not only an exciting new asset class—they also align perfectly with our commitment to future-oriented and solution-focused construction, with innovation and technical excellence. Learn more about the data center asset class
