Bengaluru is the most dynamic city in the world: Report -Governance Now

Bengaluru is the most dynamic city in the world: Report

Earning the top position among 131 other commercially active cities, Bengaluru has been hailed for its forward thinking and groundbreaking efforts

GN Bureau | January 17, 2019

#real estate #economy #JLL City Monument Index #dynamic city #Hyderabad #Bengaluru #JLL #population

Illustration: Ashish Asthana

India’s Silicon Valley has received the top spot as the world’s most dynamic city in the latest Jones Lang LaSalle (JLL) City Monument Index report.

Earning the top position among 131 other commercially active cities over a period of three years, Bengaluru has been hailed for its forward thinking and groundbreaking efforts. Hyderabad, which topped last year, is at the second place this time. Delhi came 4th followed by Pune (5th), and Chennai (7th) featuring in top 10 cities. At 15th position, Kolkata was the sixth Indian city ranked amongst top 20.

In the 2018 edition of the City Momentum Edition, Hyderabad topped the rankings followed by Bengaluru (2nd), Pune (4th), Kolkata (5th) and Delhi (8th).

JLL tracked a range of indicators including socio-economic and commercial real estate as well as city’s GDP, population, corporate headquarters, foreign direct investment, rent absorption, transparency and more.

“As the Silicon Valley of India, Bengaluru has continued to witness much traction in its real estate sector over the years. Backed by a strong commercial sector, the city’s retail, hospitality and residential sectors have also gained prominence with the city being recognized as the third largest hospitality market and the leading retail market in India,” CEO and Country Head JLL India Ramesh Nail said.

Bengaluru is a hub for some of India’s largest IT outsourcing firms as well as startups and global tech firms.

“Post the implementation of landmark policy reforms such as RERA (real estate regulatory authority) and GST (goods and services tax) coupled with a focus on improving infrastructure and improving ease of doing business, the government’s reforms-driven agenda and measures are expected to bring in more transparency in the real estate sector and give a strong impetus to the sector,” said Ramesh Nair added.

In 2016, European and American cities dominated the top 20 spots of the report but their absence in the last two years demonstrates a marked East-West growth divide driven by globalization, innovation and demographic factors. Nairobi is the only non-Asia city which has made it to the list, earning the sixth spot.

Comments

Other News

Master sculptor recalls the making of the Shankaracharya statue

The Golden Chisel: The Story Behind the Making of Ram Lalla By Seethalakshmi S. and Rahul Nandan Rupa Publications, 168 pages, Rs 395

Mumbai’s missing affordable homes

Mumbai’s real estate market keeps growing, yet homeownership remains out of reach for much of its population. Three experts – urban researcher Hussain Indorewala, urban planner Vidyadhar Phatak and developer Kamlesh Thakur of NAREDCO Maharashtra, agree that simply constructing more apartments

Rubio denies US foreknowledge of Starlink restrictions in Ukraine

US secretary of state Marco Rubio has said he was unfamiliar with the Wall Street Journal report suggesting Elon Musk had decided to throttle Starlink services in Ukraine, but rejected claims that Washington had ordered the restrictions to pressure Kyiv. “There was no

Can AI change India’s breast cancer story?

Breast cancer has become a public-health challenge in India. The greatest opportunity is to find cancers earlier. Artificial intelligence (AI) is opening a new era in breast cancer detection. AI systems can analyse mammograms and other breast-imaging studies, identify subtle abnormalities and assist radi

Farm stability in the time of climate change

Indian agriculture is experiencing significant climate volatility, while the world economy seems to be in a highly volatile situation. Economic indices from various countries show that they need to recalibrate their strategies to withstand economic headwinds. In such a challenging situation, a country li

El Niño threatens India’s Rabi crops

India’s southwest monsoon ended with a 13% rainfall deficit in 2026, its weakest performance in a decade, raising concerns over agricultural production, water security and the upcoming rabi season. With El Niño expected to persist into early 2027, experts warn that declining soil moisture, dep