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
Dear Nazeer Ullal, i do not agree with your comments. Please try to be good to others if you are a real Muslim. Islam does not spread hate. Be a model to others and dont let others to have bad image about islam and muslims. In case you cant do anything good, please dont hate anyone who does good job. If you cant appreciate them, please do not hate them.
WE are human first....religion came afterwards....good gesture people of Ullal.....keep doing...May God bless.....
@nasser Ullal
Islam is peace and helping. A man who done bad things. And he had one good habit like feeding dogs. If Allah wills he might go to heaven.
There is no guarantee that a man pray 5 times. And his heart is full of hatred. T
@NAZEER ULLAL, AL JUBAIL KSA.... like this people should be hanged no rights to stay in india. always front to disturb the peace of society.
Nazeer Ullal,this is also a way of spreading love in society which is missing....Our Prophet had allowed Christians to pray in Masjid e Nabwi in Madina. Please spread love. Humanity is important.
Ullal people's surgical strike against a terrorist who threatened to set Dakshina Kannada on fire.
wow two eyes are not enough to see.. that too in ullal.
no words to say, just awesome.,
Integrity! good work by good muslims.
hatsoff muslim brothers! indeed a great initiate for the happy society.
good job muslim brothers, will unite to make india better.
wow just wonderful to see this, amazing!!!
nowhere can be seen like this, this only happens in mangalore.
this is not islam.....instead of serving them, the idol worshippers, let them serve the needy poor people. no where is mr. abdul rasheed haji the president of darga ullal?????
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