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
Kill them whenever they enter your home, there is no punishment for self defense... Judiciary is permit you to kill any person or group if they enter your home forcefully...next time don't give them a chance to escape alive...
BJP has lost its civic sense,how can they rule the country? if they cannot respect senior citizens. Intolerance has reached its peak amongst BJP. Curse of these senior citizens will lead them to their dooms day in sha Allah.They should not forget that human is mortal
BJP is a sore loser
Where is Ibraheem Hussain Udupi
Where is CongRSS ? are Siddanna,Paramesh appa, rammnna ?
COWARDS Since the time of BRITIISH, Either supporting the british against indian independence or attack cowardly 100 X 1 or 3
Animal is animal (do they ask people to worship them or use it to celebration)
Please publish news about BJP MP Statement
Terrorism will not destroy without ending Islam
Let people come to know about elected candidate work progress
Guys election is over, accept the reality and work together for the betterment of poor and downtrodden people. But police do their job and nab those who are responsible for attacking old age persons and destroying their properties....this is really bad...
Really very much condemnable, but how much you reported that , we Hindustanis non believable movement attacking the Woman, totally Criminalizes, Goonda act non bail Black Prison Inside, These BJP,RSS Criminal Goondas so far not attacked women their Plan only make Problem for Looting, the biggest Looters, Thieves are BJP/RSS Goondas and Criminals, looks like now in Karnataka in Siddannas Government they can not do their Criminalize, path were these Criminals ruling.
\\"but one thing Every Dog has its own Day Anna\"
Jia Hindustan."
Acche din
This is a time to ban BJP/RSS terrorist group and kicking them out of the country
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