BIZ-STUDY-REALTY-CITY RANKINGS

With a robust technology and

innovation ecosystem in place, Bengaluru has emerged as the

world's most dynamic city, a recent survey said.

According to a survey by property consultant JLL,

following Bengaluru is Hyderabad that is ranked second with

Delhi at fourth, Pune at fifth, Chennai at seventh and Kolkata

at fifteenth position featuring in top 20 cities.

With 19 of the top 20 cities from Asia Pacific, the

rankings highlight and showcase the region's continued rapid

urbanisation and strong economic growth.

In the 2018 edition of the City Momentum Edition,

Hyderabad topped the rankings followed by Bengaluru (2nd),

Pune (4th), Kolkata (5th) and Delhi (8th).

"A key theme in this year's index is of many of the

top-ranking cities having a robust technology and innovation

ecosystem. The technology sector is a key driver of both real

estate and economic momentum, and is propelled not only by the

large dominant tech firms but also by a robust start-up

culture," JLL India CEO and country head Ramesh Nair said.

He said that both Bengaluru and Hyderabad have a

thriving information technology and start-up culture which has

helped them top the rankings.

"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

citys retail, hospitality and residential sectors have also

gained prominence with the city being recognised as the third

largest hospitality market and the leading retail market in

India, he said.

He further said that some of India's fastest growing

cities have been successful in recent years in drawing high

levels of foreign direct investment with structural reforms

also encouraging greater interest from foreign real estate

investors who are seeking to tap into the countrys favourable

growth dynamics.

Nair also noted that the implementation of reforms

such as RERA and GST with a focus on improving infrastructure

and improving ease of doing business have brought in more

transparency in the real estate sector and has given a strong

impetus to the sector.

"Hyderabad as an emerging investment destination has

been in the spotlight for its growth potential and investments

from all major technology led companies around the globe. The

real estate market of Hyderabad has been one of the best

performing in India for last few years in terms of the

absorption and new launches," he added.

The other cities include Hanoi at the third position,

Nairobi at 6th, Ho Chi Minh City at 8th Xi'an at 9th

Guangzhou at 10th.

"Asia continues to show strong momentum, with cities

that are successfully expanding their innovation economy

punching above their weight in terms of attracting capital,

companies and people. These cities need to address the

environmental and social impacts of rapid growth such as

social inequality, congestion and environmental degradation,"

JLL director of global research Jeremy Kelly said.