As we enter a new economic cycle, the first PAT Cast of 2025 explores the outlook for global real assets. With early signs of stabilisation in the real estate market and an evolving infrastructure landscape, we outline where the most compelling opportunities lie for investors in the year ahead.

In the first part of the PAT Cast, we take a look at the opportunities and challenges for the real estate industry in 2025, including the enduring strength of the residential and industrial sectors, the rising appeal of alternative asset classes such as data centres and co-living, and the impact geopolitical factors may have on the industry.

In the second part of the episode, we assess the continued attractiveness of infrastructure as an investment asset class, with a focus on the decarbonisation and digitalisation megatrends, and identify the sectors and markets which we see bearing fruit, as well as opportunities where greater caution is advisable.

Your host, Andrew Belt, is joined by:

• Mahdi Mokrane, PATRIZIA’s Head of Fund Management Real Estate and Head of Global Investment Strategy, Research, and Investment Solutions
• Tom Maher, Managing Director - Infrastructure at PATRIZIA