Hyderabad: A leading firm into real estate and investment management, JLL (Jones Lang LaSalle) has named Hyderabad as the ‘most dynamic city’ from among 130 cities across the globe. This ranking comes in its seventh edition of City Momentum Index (CMI).
Six other Indian cities make it to the Top-20 in the list-Bengaluru (2), Chennai (5), Delhi (6), Pune (12), Kolkata (16) and Mumbai at No 20. Incidentally, India, with seven cities in the top 20, the most for any country, leads the 2020 index despite the slowdown in the economy.
The city momentum Index presents a weighted overall score for the sub-scorers of 18 variables. The variables used in the model are combined variables of short-term socio-economic and commercial real-estate momentum.
The parameters under socio-economic momentum are engine room population, economic output, retail sales, air connectivity, corporate HQs, Foreign direct investment.
The variables under Commercial real-estate momentum are absorption, rents, supply (offices, retail and hotels), investment transactions and transparency.
The JLL City momentum Index identifies a number of key growth drivers, including talent attraction, the expansion of innovation hubs band better urban planning, that cities can employ to meet the challenges faced by rapid momentum.
CEO and Country head of JLL, India, Ramesh Nair said “Commercial real estate in south Indian cities is growing at a rapid pace. Hyderabad has seen tremendous growth in 2019 and is in line with that of Bangalore. The city has actively embraced technology-driven economic growth and attracted tech giants and major e-commerce players. ”
He added, “India’s fastest growing cities have been drawing a significant level of interest from overseas investors. We are starting to see benefits of the government’s reforms on the infrastructure and policy front. Despite a slow economic growth, these reforms are bringing market transparency, which boosts investment into real-estate.”