Seven Indian cities feature in top 20 in JLL “City Momentum Index”. List is based on better performance in socio-economic and commercial real estate
Hyderabad, the City of Pearls has recently emerged as the world’s most dynamic city on better performance in socio-economic and commercial real estate, global property consultant JLL India said. In spite of the recent economic slowdown, seven Indian cities namely, Bengaluru, Chennai, Delhi, Pune, Kolkata and Mumbai alongside Hyderabad feature in the top 20 in this year’s ranking.
In the list of 130 cities across the globe, Bengaluru has been ranked second while Chennai is at fifth and Delhi at sixth position. According to JLL “City Momentum Index” that identifies the world’s most dynamic city economies and real estate markets, includes Pune, Kolkata and Mumbai at the 12th, 16th, and 20th positions, respectively.
Hyderabad scores across a range of economic indicators such as GDP growth, retail sales and airport passenger growth. Hyderabad has superseded Bengaluru as the world’s most dynamic city from amongst 130 cities across the globe, JLL said in the report.
The government’s reforms on the infrastructure and policy front has facilitated significant interest from overseas investors. Despite a slowing pace of economic growth, these reforms are bringing more market transparency, which boosts investment into real estate, JLL India CEO and Country Head Ramesh Nair said.
Owing to the government’s reforms on infrastructure and policy front, Hyderabad has recorded tremendous growth in 2019. The city has actively embraced technology driven economic growth and attracted large tech giants and e-commerce players. This has given Hyderabad a competitive edge over the other Indian cities, Nair said.
Besides this, Hyderabad is also cutting the demand for artificial cooling such as air conditioning with cool roofs that reflect sunlight and absorb less heat.
The growth of micro-mobility such as smart bikes and rising popularity of e-vehicles is another such positive step.