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
Vinaasha kalakke vipareetha budhi
I dont understand, why media giving attention to this rubbish speech.. He just wanted media attention. and also he wanted to thrill his followers..
Nalin Kumar Kateel is no. 1 terrorist. Once he told, he wanted to burn entire Mangalore.
Shakha trained bhakt ! Modi & Shah are very happy on his comment on CM. Nalin Don't worry you are eligible represent educated Mangalorean (?) in forth coming Parliament election -2019.
This kateel is delivering an election speech or mocking himself?
An uneducated goon who threatened to set entire Dakshina Kannada district on fire is a desh bhakt. And a farmers’ leader turned politician who upheld the concept of Kalnaya Rajya is a terrorist. What a joke.
Katilanna.. First learn language. The meaning of Sultan is King. You are hailing him as king. King will be terrorists for only terrorists.
I think politics of this region is a curse. There is no boundries to the wild allegation and lies that these politicians utter. I think we have to play back some of his terrorism speeches including burning of DK speech.
The only way we can stop BJP getting back to power in Karnataka is to switch to ballot system.
What they think they can fool all Kannadigas, as they did in North East, UP.
Unfortunately the people in that regions are very innocent. They don’t understand how they are being fooled by their leaders specially Modi and Amit Shah.
Now their own people are fed up of them. Many secular leaders left the BJP and jointed Congress.
Kateel is very lucky to be a MP who really does not deserve to be Grama Panchayat member.
The cleanest CM is Siddaramiah, in the recent generation, like very few CM s we had in the past like Nijalingappa, Kadidal Manjappa. He never indulged in single bribery or corruption.
He is Very straight and strong leader, who has always worry for the people. But our stupid opposition want to destroy him for their selfishness at the cost suffering of poor people.
May God almighty help our people to understand the fact and elect the best leaders.
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