NEW DELHI — While Bengaluru tops the chart, Hyderabad ranked second in the world ranking of dynamic cities. Hanoi, Delhi and Pune are among top five positions.
The World Economic Forum unveiled recently on its site the top 30 global cities’ ranking from the yet to be launched JLL’s City Momentum Index (CMI) 2019, that lists Hyderabad at second position.
Hyderabad has been able to maintain top positions in the CMI in the consecutive years.
India’s fastest-growing cities have been successful, over the recent years, in attracting more foreign direct investment, with structural reforms, including the Real Estate (Regulation and Development) Act 2016, encouraging investments.
Hyderabad has also been recently been ranked among top five cities in the world to have shown a quick rise in residential property values in the last one year, as per Knight Frank Global Residential Cities Index-2018.
WEF adds, “Although momentum in the global economy appears to have peaked, there are still many cities in the world where real estate and economic growth continue to be robust.”
JLL’s City Momentum Index, now in its sixth iteration, focuses on momentum for the world’s most commercially active cities. The City Momentum Index shows how businesses and governments can work together to make this happen.
This year’s rankings witness the fastest urban growth continuing to shift away from the west to the east.
Asia Pacific is home to 19 of the top 20 cities in this year’s index, and overall, Indian and Chinese cities dominate the rankings, accounting for three-quarters of the top 20. Only one city outside of Asia Pacific, Nairobi, ranks in the top 20 most dynamic cities in the globe.