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
Hi faizhal bhai ...artha aithu bidi ....Johnny walker beku antha indirect agi kelta ideera. ...papa en madakke Agathe ...DEC 31st sigree Johnny walker nalli abhisheka madistini padubidrili.
adsari triple talaq baratte antha tension suru agirbeku ....haha .. Careful kanree hendru case haakidre kabbaddi adida reason ge monthly maintence kodbekaguthe ...konege Dana kadiyo vehicles saha ada idbekaguthe ....
Adsari ...binder nalli burnol business jora ...surgical strikes and triple talaq matter admele bp tablets demand jaasthi agidyanthe howda...haha...neevu Johnny johhny walker antha irodu nodidre gottagutte ...
Wonder why Naren keep shifting his base very often.... now in Singapore
Why....India is not safe?
Naren....Johnny Johnny yes papa.....this is not the topic here...... forget the world...we are talking about saffron terrorism in our country..and the world already knows who created IS...your American fathers and Israel Aliyas......OK...wake up...from your pills nashaa
People like Naren & Viren can only support sadist and womanisers like Trump...
thats the mindset of sanghis
nareen kotian is abnormal let him say ..he need treatment....
Naren mama, Sangh can't be destroyed. because no one is interested to destroy it. after all sanghis are also going to apologize to the nation one day. But currently your sangh has decided to destroy the nation. We will not allow for that. Ur ultimate aim is bringing BJP to power and making india a Hindutva country. but the aim of common man of India is peace and co-existence. (Plz dont translate peace into arabic :p)
Worst than Islamic state ? Haha ...as per Islam ..non muslim women are considered as slaves ..so Isis following that theory cmon man ...
u guys scream how much ever u want ...our sangh can never be destroyed ....love u sangh parivar ......trump mama bandu Islamic state ge benki haako dina dura illa ....surgical strikes admele mini Pakistanis gala demand for burnol has increased 4 times Anthe ...
Indian version of ISIS
So what TAG will applied to thus group. Are they Desh Bakth. Is it allowed to hold such weapons. If ithis type of offence carried out by minority immediatley they will apply terrorist label. Now we have to wait and see active central govt and their chela TV media's comments.
For peace loving Indians account this group is terroriit. Worst than ISIS
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