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
hahaha muslims always find problem where they are ... In arab world they find enemy in the name of Israel , in west they scream that chummag ge gummah madthavre americans and christains antha ... bosnia dalli serbians mele ... burma dalli namma buddhist mele ... india dalli RSS mele ... hane baraha ashte ... no islamic country is peaceful as it is full of terrorists . Iran is an exception as they are shia ... 99.99% terror crimes , frauds , smugling , rapes are done by one particular community only ... still they scream they innocent anthe , mullahs give us a break ... we know what you are doing ... Hindus are well aware of what jihadist did for their culture , how indian women were raped and places of worships were destroyed . yaavano helidnthanthe RSS mukhta bharatha madthini antha ... adakke chummah gang namgobba leader sikkavne , madiji ge manja tinsona antha scheme haaktha idave ... hahaha ... RSS is not a local organisation ,it has so powerful lobby and very vast network across the globe ..next only to jewish lobby now . jewish and Indian lobby work together ...RSS is 100 times more stronger than these scums imagine .. nothing wrong in questioning muslims and if they are not found guilt send them out ... india must be free from terrorism ... so NIA must watch madrassas which are symbol of terrors and seminaries , which is a breeding ground for jihadist acts ...jai ho israel .. jai ho india ... long live Indo israel relationship ... death to enemies of israel and india ... hara hara modi .. jai jai modi ... jihadi gala pinkaan ge mirchi biddu ice mele koorlikke horadtha ive antha kanuthe ... yakku baba ... bholo bharath mata ki jai ... i heard one jihadi lady , pinkaan nalli 1 kg gold madikondu bandu namma police kaili sikki haakondavlanthe howda mullah gala .. hahahahha
Maulana thariq jameel is a scholar, his speech has changed many lives all over the world, and his speech CDs are commonly available in India and in gulf countries.
Kumar, if Muslims threw you out from India...we would not have seen you talking like this here in CD....it is because of your kind of people our country is not progressing...facing lot of problems now and then....Burma will suffering because of their wrong doing....
Muslims are not terrorists....RSS made them scafegoats
We Indians must stand up and voice and war against terrorists and terrorism. I salute Bihar CM Nithish Kumar's call for free RSS.
If we get rid of RSS then there will be peace everywhere in India.
RSS is the root cause of terrorism.
@ VENKI MANGALORE
YA YA BJP DPING THE WORK PROPERLY YES U R RIGHT
THEY TRING TO MAKE COW AS MOTHER AND BAN IN INDIA
BAGWATH GEETHA TO ANNOUNCE NATION HOLLY BOOK
THESE THEY DOING WORK RIGHT NOW
I feel sympathy for those CD anti muslim viewers who try to sling the mud on muslims stored in their backyard
@ KUMAR MANGALORE .
MIND UR WORDS.. DONT TALK AGAINST THE MUSLIM
TALK AGAINST THE TERRORISM
NEED TO CATCH VHP WE WILL GET THE PURE LINK...
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