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
First attempt failed..... Maharashtra govt. Gave clean chit...now BJP center running behind Muslim schools and scholars......khujlee of people flowing in to Islam...no one can stop this if god wills....
FIRST BRING THE MALLYA TO INDIA
THEN FOCUS ON THE ZAKIR NAYAK ISSUE ,, ONCE POLICE GAVE HIM CLEAN CHIT RIGHT AGAIN THEY MAKING SOME DRAMA FOR DR ZAKIR NAYAK...
Haha Try hard RSS terrorists. Hand in Glove with Cow Swamy. Whatever you do, Cowswamy has to pay 500 crore to Dr. Naik.
India belongs to Muslims as much as Hindus. We need our own Main Stream Islamic Channel in India. This is our constitutional right. We Muslims must fight and come out on the street for following channels to be shown in India Makkha Channel, Madina Channel & Peace TV.
We Muslims has to work hard for Da'awa in India. Distribute Islamic CD's on comparative studies to non Muslims so that they can Judge between right and wrong.
We will wait and watch extent of RSS terrorism. Gulf countries should freeze RSS terrorists & Sympathizers accounts. They should put pressure on US govt to declare RSS organization as terrorist organization.
In Sha Allah End of Times Now Channel & Cowswamy. I have serious doubt on Maroof raza (Times Now Consultant) whether he is Muslim.
Mr. nothing but truth, for you he might seem like a Joker, for Allah dr. Zakir naik is his obedient slave, and Allah loves his slaves like anything which is beyond the capacity of human being's imagination. Fear Allah, fear the torment of Allah, if you don't know yet, refer to the holy Quran just once. We pray almighty Allah to protect dr. Zakir naik and in sha Allah you will see. Allah says in the holy Quran \Wakul Ja al haq wa zahkal batil, innal batila kaana zahooka\" The truth has arrived and the falsehood perished, Indeed falsehood is bound to perish."
Now let Mr. Joker Naik present his illogical logic in front of court. He would then understand Court is not a place to bluff as he does so often among innocent half-educated public. The heat is on..
Add new comment