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 not targeting the scholar ...
its targeting ISLAM
its targeting the TRUTH
its targeting the blind faith from knowing the TRUTH.
its targeting to blind the knowledge of oneness of God (Na tasya Pratima Asti)
In the past there were many who targetted, but Alhamdullillah (Thanks to ALLAH) ISLAM is still ALIVE and No one can white wash it even if they have all the temporary powers they get from the Almighty. Non Muslims should read (thequranproject) online to learn about the POWERFUL ALMIGHTY ALLAH who is the CREATOR of all that EXISTS.... its time to Recognize OUR CREATOR and reject the FASLEHOOD (Manmade gods) that will be the TRUE SUCCESS in this world and the Hereafter.
When he became terrorist.
So how many riots/bomb blast took place after his speech.
O ho ! If the government can bring Zakir Naik to India, why the government can not bring Neerav modi, Lalit modi, Mehul choksi etc to India. (instead PM has friendship with them by meeting Neerav in Davos, appreciating Mehul choksi in a program etc). Is this not a partiality to target only muslims. Looting Thousands of Crores by so many guys and running away from India is not a matter at all for the goverment ?
This is totally injustice.. Targeting a scholar its not a good thing. Zakir Naik doing everything for the betterment of humanity
While barking about saffron terrorism you people should realise Islamic terrorism also. ZN spreading only hatred
Not Islamic preacher.. He is communal goon
Again started problem.. Such a communal minded man. He should not be free
Put him behind bar. He is just total waste for earth.
Why modi affraid of ZN
So what...! Handing over a terrorist is not a big issue. Modi govt asked because he is more concerned about safety of people
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