Indian cities have ruled the top positions in yet-to-be-launched JLL’s City Momentum Index (CMI) 2019 under the short-term growth category as Bangalore gained the first position in “Top 20 most dynamic cities in the world” chart, followed by Hyderabad on 2nd place.
The momentum of economic growth at global may have not shown peaking outcomes, but some of the cities around the world have managed to continue with economic and real estate upbeat. The sixth edition of JLL’s City Momentum Index lists out of the cities of world that have been the most commercially active in past year. This year’s list is ruled by Indian cities as Bangalore and Hyderabad have bagged the top two ranks as most dynamic cities in the world, while Delhi, Pune, Chennai and Kolkata have also secured their places in top 20 list.
Both the leading cities are India’s powerhouse in the global IT/ ITeS and BPM domain, with Bangalore being the home to research and development facilities for a growing number of global companies, whereas, Hyderabad is ground-zero for global brands such as Deloitte, Qualcomm and Microsoft. Delhi has gained the fourth position, followed by Pune on fifth, Chennai on seventh, and Kolkata on number 15. Overall, Indian and Chinese cities have dominated the rank list, and Asia Pacific is home to 19 of the top 20 cities in this year’s index except Nairobi, which is not a part of the region.
Apart from being the largest Grade A office market in terms of leasing activities, these cities have managed to score in a range of socio-economic and commercial real-estate indicators too. Reports are also excerpting India as the fastest nation in attracting high levels of foreign direct investment, with structural reforms, including the Real Estate (Regulation and Development) Act, 2016, encouraging more real-estate investment from foreign buyers. Beyond JLL, other international surveyors like Knight Frank Global Residential Cities Index-2018 too, have recognized the bolstering growth in Indian peninsula by ranking Hyderabad among top 5 cities in the world to have shown a quick rise in residential property values within a year.