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
Its all like a Drama.... nee Atta haage maadu.. naaa hodeda haage maduttene...
If you have real concern about Mangalore Minority, Please please please arrest him.. your own government your own administration.
Hello Kodichal bhai, why sou moto case ? Let the people know that You or your Congressmen doesn't have guts to register a case against him. Wear Bangles and sit at home, your prepoll planned press conference will not give any mileage. We all know you guys want bhatta or any other card to use it for your election purpose. Know one is dependent on Karnataka congress government. Also tell ministers in DK to wear saree and sit at home. Don't worry about Bhatta, we know how to deal with him and out to prevent communal harmony.
Haji Ibrahim Bhai.
Two years back same bhatta barked at Gurupura against Muslims, the same congress party is ruling karnataka... Until now no any action taken against him.
Youth congRSS president Mithun Rai shouted at Gurupura, in future if bhatta going to speak anywhere he will take hindu youngsters of congRSS to stop his speech. Where is now this mithun?
You congRSS people can fool all the muslims one time, not all the time.
We now understand what is congRSS, and what is BJP.
Stop drama.... arrest bhatta now and put him behind jail for long time. then only we can understand original congress is ruling karnataka.
dont give any press conference.
No use of making bow, bow ...... in the public....Bhatta is ready with Anticipatory bill.... Still you trust xxxxxx cong ....
Shame on you kodichal.
Your own party ruling the karnataka.
Don't do drama in front of the people. There is no need to announce openly to arrest Batta. Order police to arrest him and put into cell.
What a drama?? you congress people are best for drama only, you people are in power and you people begging with police, shame on you congress.. Congress cheating people only with statement. Muslims also blindly supporting these people. what a tragedy.
These useless leaders are joking their selves! When the people gave them power why to fear RSS??? Or Is RSS controlling Congress Leaders??? Next time please don't come to ask for vote by showing RSS fear!!! People of Dk understood the Reality.
Your own Siddramulla Khan is ruling Karnataka. prior to last election he had promised to take action against Bhat. now his partymen want advice from Bhat's pariwar.
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