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
Rasheed Bhai......... No individual is above the Nation. Personal attitudes will not damage the whole NATION and its CONSTITUTION. But a Political Party as a whole can make a difference to the NATION. Being a citizen of INDIA, just evaluate the Nation under BJP rule and CONGRESS rule you will get your ANSWER. Thank God.... your family is safe and secure, but think about those families who were the victims of BJP workers. The intolerance in last 4 years has gone from bad to worse. For God's sake, please keep your difference away especially for this State election and for upcoming General Election in Year 2019. All the best to all the Kannadigas and lets give another chance to CONGRESS to keep the injurious political party BJP much far away.
i think muslims should vote for Ashraf . attitudes of U.T is dangerous than bjp , he is selfish , his last five years attitudes shows he may sell entire community for his personel gains... such candidates should be defeated ....
improve ullal means..... he had not done anytihng to his own place then how we can trust him that he will develop karnataka/India........ i am not anti congress dear. but those who did not work for the welfare of the society should not win this election.... anyone maybe...... staying as loyal, honest, visiting funeral is not that he is good MLA or Minister.......
Abbu , what is your thinking brother, to improve ullal, you will vote against congress, really sad with your thinking , thing about India and people of Bharat , if you divide vote against the situation will be same , vote congress to get good results
use common sense please dont vote any muslims indipendent candidate, vote only congress
Some selfish and jealous people are trying to misguide the community. Instead of supporting and guiding the community to the unity, they try to divide just because of their selfish motives. Community should be very vigilant and aware of what is happening. While all secular forces trying hard to stop this Communal party, this kind of selfish people are trying to divide. They harm the community indirectly. Its better not to give an opportunity to our enemy rather than harming our own community. So be aware of this kind of selfish people. Its very easy for all political parties to be communal but secular parties are struggling. Instead of supporting secular parties, these selfish people trying to divide the votes. Very bad. Need to reject him outright.
Under the current state of affairs, we need to think about the whole KARNATAKA STATE and our great nation "INDIA". This JD(S) candidate is BJP's agent and they are not bother about our STATE & NATION. Even though if he win election this time, I can challenge he will never improve ULLAL. He will just fill his pocket and share few penny to BJP. Let all the Kannadigas be SMART and vote for CONGRESS - because the current situation in INDIA had forced all the MUSLIMS to vote only CONGRESS. We all should think that its CONGRESS V/S BJP only. No other parties should exists at this moment of time. Lets build a very strong and smart INDIA.
better vote all muslims for ashraf ... then how there will be vote divide..... UT khadar has not done anything to improve his place ullal
Good news for BJP
If you vote for Ashraf it is like voting for BJP. Do you want Modi and Amit Shah to win?
Be smart and don't vote for Ashraf
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