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
I request my muslims brothers and sisters please dont vote MIM because they do nothing for minority people in hyderabad. Always both brothers polarise the vote bank politics and come into power but development is zero. Since thier late father salauddin owaisi is also playing the same role. Please elect the correct person who can do good for all communities in secular way.
But you have to understand, it is a simple ploy by BJP to break the opposition. The same happened at the centre. The same will happen in Karnataka if you divert votes. Atleast, Karnataka is away from all the dirty politics BJP plays once it comes to power. Look at what is happening in UP. You want them to come in power, choose to vote for a party which doesn't have a chance to get majority. And don't crib about it later, that a party is in power which doesn't care about Muslims. Choose your vote wisely. Nothing against Mr Owaisi, but to cast ur vote for a party which doesn't have a clear cut chance to be in power - is simply contributing towards the success of BJP's plan. Simple divide n rule!
In my opinion MIM should coordinate with local political party and avoid splitting of minority votes thereby supporting bjp. MIM should contest on its own only if its 100 percent sure to win otherwise votes given to MIM will be waste and it will benefit anti national bjp. Congress less better than bjp.
SO WHAT IF BJP COMES TO POWER IN KARNATAKA........ FOR MUSLIMS BOTH BJP AND CONGRESS ARE SAME... BOTH THEY DONT SUPPORT MUSLIMS AND THEY DONT EVEN CARE ABOUT THE DEVELOPMENT OF MUSLIMS.... DEAR CONGRESS LEADER, JUST CHEKC YOUR LAST ELECTION MANIFESTO FOR MUSLIMS AND CHECK HOW MANY POINTS YOU HAVE COMPLETED FOR MUSLIMS.... BJP PLAYING OPENLY AND CONGRESS FROM THE BACK SIDE OF THE MUSLIMS LIFE...... NO DIFFERENCE BETWEEN BOTH THE PARTIES........... SO MUSLIMS VOTE FOR OTHER PARTY THAN CONGRESS... CONGRESS IS JUST USING MUSLIMS AS VOTE BANK AND NO RESERVATION, NO DEVELOPMENT, NO PROTECTION, NO COMPENSATION, NO JUSTICE FOR MUSLIMS.... IF MUSLIM KILLED NO CONGRESS LEADER WILL COME FORWARD FOR JUSTICE... NOT EVEN MUSLIM LEADERS OF CONGRESS PARTY WILL COME.....
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