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

TRP-driven model bred irresponsibility: Sudhir Chaudhary

News profession is organic in nature, requires responsibility and discipline, and there is no room for mistake. To maintain high standards of accuracy you need discipline and hygiene in the newsroom. Sudhir Chaudhary, editor in chief of Zee News, Zee Business and Wion, has said that a TRP-driven business m

This Mumbai NGO empowers children with skills

When Dharmendra Pandey, a fruit-seller had to leave Mumbai after the imposition of the lockdown during the Covid-19 pandemic, and return to his village in Uttar Pradesh, he was staring at economic uncertainties ahead. Little did he know that his 16-year-old son, Mahavir, had acquired skills that would come

Masks: Awareness: near-total, compliance: half-way

Wearing a face mask is the first line of defence against the novel coronavirus, along with maintaining social distance and frequently washing hands with soap. More than six months after the outbreak of Covid-19, nearly 90 percent of people in India have become aware of the necessity of wearing a face mask,

Covid-19: Daily recoveries cross 1 lakh mark, new cases far fewer

Is India finally gaining an upper hand over the Covid-19 pandemic? After weeks of new cases hitting 90,000-plus every day, the tide seems to be turning, as the number came down to 75,083 on Tuesday, and the recoveries were not only higher than that but crossed the 1 lakh mark too. The countr

A travelogue of an inner pilgrimage

Sit Your Self Down A Novice’s Journey into the Heart of Vipassana By Gayatri Jayaraman Hachette India, 212 pages, Rs 399 As stress and strife increase in daily life, more and more people are turning to meditation as an all

Vote in the time of Covid: EC hosts global webinar

On completion of one year of the chairmanship of the Association of World Election Bodies (A-WEB), the Election Commission (EC) of India on Monday hosted an international webinar on the theme of “Issues, Challenges and Protocols for Conducting Elections during COVID-19 : Sharing Country