With UKREiiF now under three weeks away, the real estate, infrastructure and development sectors will once again converge in Leeds. The mood heading into UKREiiF 2026 is notably more grounded than in recent years. The focus has shifted decisively away from whether markets will recover, towards how projects are structured, funded and delivered in practice.

Based on conversations across the market, we expect the following themes to feature prominently on the agenda.

From “recovery” to execution and delivery

The debate has moved on from value correction and market re‑opening to a more practical discussion about execution. Capital has broadly repriced and is selectively returning, but deployment is disciplined. The emphasis is now on underwriting robustness, deliverability and capital structures that work against today’s cost of debt.

For the public sector, there is increasing pressure to move beyond aspirational visions and demonstrate credible, consented pipelines. Schemes that are well‑planned, phased and capable of being delivered in stages are attracting far more interest than theoretical masterplans.

Alongside this, procurement strategy and risk allocation are firmly in the spotlight. Inflation risk may have moderated, but concerns remain around utilities, grid capacity and construction logistics. How these risks are apportioned between developers, contractors, funders and public bodies will be a recurring theme across panels and private conversations.

Housing delivery – scale, but with realism

Housing will once again dominate the political and industry agenda, driven by the Government’s ongoing commitment to significantly increase supply during this Parliament. However, the tone has become markedly more pragmatic.

While interest rates have eased, viability remains constrained across many markets, particularly for schemes with significant affordable housing components. Discussion is therefore likely to focus not just on scale, but on deliverable models that balance policy ambition with commercial reality.

Institutional capital continues to favour rental-led solutions to undersupply, with Build to Rent and single‑family housing offering relatively straightforward exposure compared to for‑sale development. Affordable housing partnerships, particularly forward‑funding structures and developer‑to‑RP transactions, are also expected to feature heavily as parties look for ways to recycle capital and manage risk.

The implementation of the Renters’ Rights Act 2025 from May 2026 will also move from theory into practice. Investors and operators are increasingly focused on how the new regime will affect asset management, valuation and operational models, rather than the headline legislative changes themselves.

Data centres, digital infrastructure and power

Data centres remain one of the clearest growth themes heading into 2026, underpinned by AI, cloud computing and GPU demand. Development levels remain high, but the sector is grappling with increasingly complex constraints.

Power availability and grid connectivity are now central to site selection and feasibility, with connection timelines and upgrade costs often driving value more than planning considerations. There is also growing momentum behind locations outside London and the South East, as developers and occupiers search for power‑rich, scalable alternatives.

From a real estate perspective, conversations are becoming more sophisticated around lease structures and risk allocation, particularly in relation to cooling, floor loading, modular upgrades and technological obsolescence with these issues sit squarely at the intersection of real estate, infrastructure and energy.

Operational real estate and long‑term fundamentals

Investor interest continues to gravitate towards operational assets with durable income and long‑term structural demand, often described as “beds, sheds and bytes”. Living sectors, logistics, life sciences, healthcare and digital infrastructure remain high on allocation lists.

However, the discussion has matured. Investors are increasingly interrogating the trade‑off between yield and management intensity, as well as exposure to staffing costs, energy pricing and regulatory change. There is a growing emphasis on long‑term relevance and resilience rather than short‑cycle returns.

This has important implications for how assets are structured, operated and documented, and for the skills required across legal, asset management and operational teams.

We look forward to meeting clients and contacts in Leeds to discuss these themes and the opportunities and challenges they present in more detail. Please do get in touch if you would like to arrange a meeting during UKREiiF 2026.

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