Hyderabad: 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.
The World Economic Forum unveiled 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.
Bengaluru tops the chart followed by Hyderabad, Hanoi, Delhi and Pune occupying top five positions. Hyderabad has been able to maintain top positions in the CMI in the consecutive years. JLL will soon launch its sixth and current year’s CMI, placing the city at the second spot.
Hyderabad has 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.
Tracking a range of socio-economic and commercial real-estate indicators to identify attributes for success over the short term, the CMI ranks 131 major established and emerging business hubs across the globe to identify the urban economies and real-estate markets that are currently undergoing the most rapid expansion.
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.