If are looking for a city to put down your anchor, then do consider Bengaluru seriously. As per a recent report, Silicon Valley of India is the world’s most dynamic city among 131 major established and emerging business hubs globally.
According to the sixth City Momentum Index published by JLL, Bengaluru is the world’s most dynamic city. The top position can be attributed to a strong commercial sector along with retail, hospitality and residential sectors have also gained prominence.
In fact, Bengaluru is the third largest hospitality market and the leading retail market in India.
JLL’s City Momentum Index covers 131 major established and emerging markets and tracks a broad range of factors to identify the cities that have the strongest short-term socio-economic and commercial real estate momentum, and those that have the future-proofing capacity for longer-term success.
Hyderabad is closely following Bengaluru as an emerging investment destination. With major investment from major technology-led companies around the globe into the city, the real estate market of the city has been one of the best in India for the last few years in terms of the absorption and new launches.
Overall, Indian and Chinese cities are seen dominating the rankings this year in the sixth edition of the report, accounting for three-quarters of the top 20. The Chinese city of Xi’an, that has famously installed a 100-meter-tall air purifying tower to reduce smog and improve air quality, is ranked ninth in this year’s index.
The only non-Asian city in the top 20 list is Nairobi, Kenya, in sixth place, which reportedly has been boosted, perhaps in more ways than one, by infrastructure investment from China.
“It’s clear that the tech sector is a key driver of both real estate and economic momentum (in Asia) – driven by large technology firms as well as dynamic start-ups in cities like Bengaluru, Hyderabad, Ho Chi Minh City and Shenzhen,” Mingtiandi quoted Jeremy Kelly, director of global research at JLL.
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