Bengaluru, Jan 19: Technology hub Hyderabad has edged out 129 other cities in the world to emerge as the world's most dynamic city, according to the seventh edition of the City Momentum Index by global real estate services firm JLL.
The city has pushed Bengaluru to second place to regain the top position after a gap of one year. Chennai is at fifth and Delhi is at sixth place.
While Hyderabad and Bengaluru are the top two cities globally for socio-economic momentum, a more active real estate market helped elevate Hyderabad to first position in the overall ranking, says the report released by the US-based Jones Lang Lasalle (JLL) on Saturday night.
Hyderabad recorded the highest office net absorption in 2019 (as a proportion of existing stock) of any city globally, while it is also among the world's best-performing cities for prime office rental growth.
While all seven major Indian cities feature in this year's Global Top 20, cities in south India in particular - Hyderabad, Bengaluru and Chennai (5th) "are ahead of their northern peers, supported by favourable demographics and business climates".
"Their expanding tech industries and start-up cultures make them a magnet for young and ambitious talent from across the country, with Bengaluru having one of the world's largest concentrations of 'engine room' population (20-40-year-olds), typically the most dynamic and productive age cohort," says the report.
Kolkata and Mumbai made it to the top 20 and stood at the 16th and 20th positions. Despite an economic slowdown, India leads the 2020 Index with seven Indian cities in the top 20.
"Commercial real estate in south Indian cities is growing at a rapid pace. Hyderabad has seen tremendous growth in 2019 in line with that of Bengaluru. The city has actively embraced technology-driven economic growth and attracted large tech giants and e-commerce players. The state government's focus on business-friendly policies and provision of high-quality infrastructure along with availability of quality talent pool and superior quality business parks has given Hyderabad a competitive edge," said Ramesh Nair, CEO and Country Head - India, JLL.
Telangana's Minister for Information Technology and Industry K T Rama Rao said he was thrilled over Hyderabad not only regaining the top slot but also over the fact that it was competing with cities like Shenzhen and Shanghai in innovation economy.
The minister said 50 percent weightage from socio-economic indicators beside the remaining 50 percent from commercial and real estate was also heartening.
KTR, as the minister is popularly known, noted that in 2014 when Telangana attained statehood, Hyderabad was not even in the list. He recalled that when Telangana was formed there were many doubts as to what would happen to Hyderabad. "It entered the top 20 in 2015 and rose to fifth place in 2016 and third position in 2017. Hyderabad topped the list in 2018 and finished second the last year. This year it is back at the top," he said.
The JLL City Momentum Index identifies a number of key growth drivers, including talent attraction, the expansion of innovation hubs and better urban planning, that cities can employ to meet the challenges faced by rapid momentum.
Several cities in the top 20 stand out as they transform their urban environments in pursuit of a low-carbon future. In India, Hyderabad is looking at technology to reduce the demand for air conditioning with cool roofs that reflect sunlight and absorb less heat, it said.
"The growth of "micro-mobility" is another positive step, illustrated by Hyderabad's introduction of smart bikes and electric cars. Smart city solutions, such as bike rentals, improved quality of life, help increase inclusion and aid in the transition to a low carbon environment."
Comments
Haha #1...RSS policy don't work ?,...then you are madrasa illetarate only ..sumne 30 days English speaking coarse kalsi ..love jihad ge train madiro product antha gottagutte ....we from RSS at very rapid rate penetrating Kerala and not one or even 10 killings deter us....we love our motherland to the core ....sangh will give befitting reply to their opponents in their own language ....
I think the cheddis have read the history of Zioist..of their deception and still wants to follow that way and deceiving many youths to take their side without considering the results...
Zioist fooled the people on World war by supplyng the weapons to both sides. and also fooled the countries thru bankers....
Russians and chinese recognised them and oppose their stratergy.
india has recognized it but cheddis controlled govt. will take the indians into their deception .. This is the REALITY.
Many families have lost their sons and the family members are in suffering...
And people will come to know only when it reaches their house holds.
If Your heart recognised the LIARS, better to start distancing from the LIARS. if not You will fall to the trap of their deception
Killers feeling the HEAT...
Some young life lost
and the HATERS are playing their games of blaming
the parents and the family of the killed will be suffering...
When can WE honest people understand this game of Hatred.
Why cant WE support openly to those who are against Hatred..
come lets join and voice out against the hate campaigns
What difference it is going to make....end of the day general public has to suffer....
Yes bjp, now you aware you JEWS policy will not accepted in GODS OWN LAND. You are targeting in your dominated state but it won't work out all over INDIA.
Tit For Tat is the right policy for you and your backing communal group.
Jai Hind!
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