Hyderabad is continuing its leadership both in terms of commercial real estate and socio-economic development, emerging as the world’s most dynamic city, pushing last year’s JLL’s City Momentum Index winner, Bengaluru, to the second place.

Other five Indian cities that make it to the top 20 include Chennai (5th), Delhi (6th), Pune (12th), Kolkata (16th) and Mumbai (20th). The JLL’s City Momentum Index 2020 identifies the world’s most dynamic cities from a real estate perspective. In its seventh edition, the annual index combines socio-economic and commercial property metrics to provide insights into the rapidly evolving geography of business activity, covering 130 major established and emerging business hubs globally. Of these, 50 cities are from Europe, Middle East and Africa, 38 from Asia Pacific, 34 from North America and eight represent Latin America.

Hyderabad and Bengaluru vied for the top spot in the index, with Hyderabad just edging out its southern Indian neighbour in a reversal of last year’s ranking. While the two cities figure at the top globally for their socio-economic momentum, a more active real estate market helped elevate Hyderabad to the top position.

Unveiling the JLL report, Telangana Industries Minister KT Rama Rao said, “Hyderabad, which was not even in the index in 2014, has slowly crept in, occupying the 20th spot in 2015, then rising to the fifth in 2016, followed by the third spot in 2017, first in 2018, second spot in 2019 and attaining the top position again in 2020. This is a major turnaround for the city, which, according to Oxford Economics, has recorded a GDP in the range of 7-8 per cent in 2019, placing it among the global top cities.”

The index weighs cities over sub-scores of 18 variables. These variables are combined to assess short-term economic momentum (covering ‘engine room’ population with 20-40 year olds, economic output, retail sales, air connectivity, corporate headquarters, foreign direct investment) and real estate market momentum (covering absorption, rents, supply (offices, retail, hotels), investment transactions and transparency).

China sees five cities in the Top 20 — Shenzhen (10th), Chongqing (11th), Wuhan (13th), Hangzhou (15th) and Shanghai (17th). South East Asia is represented in the Top 20 by the Vietnamese cities of Ho Chi Minh City (3rd) and Hanoi (7th), while Manila (8th) sits in its highest-ever position. Once again, Nairobi (4th) is Africa’s sole representative, while Dubai (14th) reappears in the Top 20 for the first time since 2017. The Saudi Arabian capital, Riyadh (18th), makes its maiden appearance in the top 20.

No Comments For This Post, Be first to write a Comment.
Leave a Comment
Enter the code shown:

Can't read the image? click here to refresh

Todays Epaper

Do you think opposition to government's three farm bills is justified?

Can't Say