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
Wow just in 9 mins the fire service reaches!!!
The biggest blunder of Modi Government....those who eat beef let them eat it....those who do not with all respect do not eat it....its their choice.....vote bank politics...that should be stopped for once and for all....
Muslims do not eat pig....but do not disturb Christians at all...
Masha allah our great leaders. may Allah give you long life.
incredible India.. The government, high commissioners getting a warning by RSS Terrorists but no action till date and if it is said by Muslim outfits they will name it as terrorism and file case against innocents.
Now impose case against these goondas and let's see how they will react..
If These terrorists warns means don't worry. If they strike and do any other terrorist acts, then shoot them. Automatically Dakshina kannada will become peaceful district like before.
NIA It is Narendra Interests adopting Agency.
They killed karkera, Good police inspectors everywhere Ex. Bathla house attack, etc.
They are arresting whomever opposing RSS and their Terrorist organizations.
and Why not BJP ????????
its unfortunate that ...he included SDPI as a communal group ....its a POLITICAL party ...just because fighting for the rights of minorities and dalits . and killed by RSS government is adding and considering as communal parties ????????????????
RAI , UT and LOBO are behind this to add SDPI too in this list ...
and one more thing is that ... victim of RSS are all including RSS members ( some times RSS kills their own members to shut the mouth) .....now when RSS started to kill civilians in DK and NK....and Popular front started to protest against the same ....now govt added victims in the list to target ...
all though the RSS is the main cause for all ....only RSS should be targeted not PFI or SDPI
All drama baazi...
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Sir
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Good move,book all anti social elements for peaceful atmosphere in DK and Udupi, Let normal people live peacefully
first Police is showing its presence .....who were dead while processions and stone pelting by BD and other third class organizations .....
in fact Muslims dont pelt the stones or cow heads ...we have seen this in Shimoga and other places and as well as Bantwal ..where a viral video shows the reality ....
if P.O.L.I.C.E over come from its % pressure , then we can see some light of peace in the district .....
Asslamoalykum
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Well done police. Should punish this gundaas.
When Muslims do their job taught by prophet Muhammad pbuh ... EXPECT ALLAHs help. Never lose trust in ALLAH..
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