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
You people can check reports, SDPI people involved in many RSS workers' murder. They didnt get proper punishmnet
How BJP became communal..! BJP stands for patriotism. SDPI people working for conversion of people and making issues. That party should be banned fully.
Shame mr. rai. You only making the situation more complicated. By terming 'communal hub', you are injecting fear to common people.
BJP, SDPI both are communal they agreed. Should add more. BD, PFI etc
Dear Mr. Rai, with due respect, you and your party before flagging off the rally must answer the following questions to the general public!
1) you and your party won many times and even ruled undivided DK District but, why have you failed to controll the RSS and its hate campaign aginst a particular community???
2) During the last assemble election you have made public that once you got elected, you will send prabahkar bhat to jail! what action have you taken??
3) your own party worker late mr. Jaleel karopadi murdered by RSS Goons, what action and justice you have done to his father? who openly cried for justice and in anger he critisized you for failing to provide him justice!
4) under your constituency there were many muslim leaders and activists murder happend were were you that time?
5) the national tragedy of Babri masjid was demolished under congress rule and your national leadership maintained the soft hindutva, why have your party failed to protect it ..?
6) your national leadership had once said we will give justice to muslim community, and will rebuild babri masjid, being in a power for more than 10 years why your party couldnt provide the justice to the victims??? 7) your party have appointed the sri krishna commission! what action your party implimented against the hindutva brigade??
8) you and your party claims that, we are the protector of minority community! what protection you and your party provided for indian muslims?? since 70 years they have been looted, burnt alive, raped,tortured, made refugees, made scape-goat as terrors, etc etc ???
during all those time indian muslims dedicated their trust on all the so called secular partys, but all of them ditched to the community and maintained soft hindutva!
The anger, Disappointment, Frustration, and the Thawakkul on allah made to born SDPI on indian soil..!! that is the reality, that nobody cannot deny!!
Your Failure is SDPI's Stength, and SDPI's Success is indian oppressed community's success..!!
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