Asian Cities Take Top Spots on JLL’s Momentum Index
Indian, Chinese and Vietnamese cities dominated the seventh-annual JLL City Momentum Index. The index, which focuses on socio-economic and commercial property metrics, indicted that Hyderabad, in India, took top spot on the list. Following on this list are Bengaluru (India), Ho Chi Minh City (Vietnam), Nairobi (Africa) and Chennai (India).
While Indian cities were on top, JLL analysts also indicted that “China’s role in driving global momentum continues to be significant,” with one-fifth of the top 20 global cities situated in that country.
The Index identified key growth drivers, including talent attraction, the expansion of innovation hubs and better urban planning that cities can use to meet the challenges faced by rapid momentum. “The remarkable dynamism in the emerging Asian economies is proof that economic reforms, business growth and infrastructure investment can drive the expansion of industry, significantly in the tech sector, and facilitate a start-up culture,” said JLL’s Jeremy Kelly. “This is now being repeated the world over, as geographical diversity looks to be returning to the Index.”
Even as Asian cities were in the lead this year, the rankings also included North American cities, with Silicon Valley (9th) and Austin, TX (19th), appearing in the top 20 for the first time. According to JLL, these two regions have a reputation as established technology and innovation hubs, and are attracting young talent. This, in turn, leads to them being more attractive real estate destinations.
Pictured: Hyderabad, India
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