According to the City Momentum 2020 ranking, published by the real estate consultancy JLL, Hyderabad emerges as the most dynamic city in the world, dethroning number one in the 2018 ranking, Bangalore.
India, queen of the most dynamic cities in the world. Up to five metropolises in the Asian country have sneaked this year into the City Momentum 2020 ranking, prepared by the real estate consultancy JLL and crowned by Hyderabad.
Hyderabad has dethroned its second-place neighbor Bangalore this year. JLL highlights Hyderabad’s growing socioeconomic drive to outperform its southern Indian neighbor by having a more active property market.
The City Momentum 2020 ranking, published by the JLL consultancy, ranks the most dynamic cities in the world from a real estate perspective, combining metrics of socioeconomic and commercial attributes to identify rapidly evolving sectors of business activity. The indicators considered in the ranking are: Gross Domestic Product (GDP), retail activity, investment, rentals, occupation demand, real estate transparency, corporate presence, among others.
South Indian cities have gained considerable momentum globally despite the slowdown in their economy. Other Indian cities included in the top 20 of the ranking are Chennai; ranking fifth, Delhi; in sixth place, Pune in twelfth position, and Calcutta and Bombay.
No city in Latin America was included in the ranking.
Southeast Asia is present in the ranking with the Vietnamese cities Ho Chi Minh, in third place, Hanoi, in seventh position and Manila, in eighth. Despite the recent slowdown in the Chinese economy, five cities are present in the ranking: Shenzhen, Chongqing, Wuhan, Hangzhou and Shanghai (17th). In the top 30, there are five other cities that include Xi’an and Guangzhou.
Nairobi has once again been the only representative of Africa, while Dubai, which occupies the fourteenth position, reappears in the ranking for the first time since 2017. The capital of Saudi Arabia, Riyadh, makes its first appearance in the top 20, thanks to its economic dynamism.
Innovation continues to be a considerable boost to the solid performance of the US regions of Silicon Valley and Austin, Texas, the only representatives in the Top 20 in advanced economies. No city in Latin America was included in the ranking.