By Bernd Debusmann Jr
Indian, Chinese and Vietnamese cities dominated the JLL City Momentum Index 2020
Dubai and Riyadh are both in the top 20 cities gaining momentum around the world, according to a newly released report from JLL.
The JLL City Momentum Index 2020 takes into account 130 major established and emerging business hubs.
Dubai, which came in 14th place, ranks in the top 20 for the first time in three years. In its report, JLL cited a relaxation of visa rules and the lead-up to Expo 2020 Dubai.
The Saudi capital, for its part, came in 18th place, with JLL noting that the city is benefitting from the kingdom’s wider Vision 2030 programme and various initiatives to improve the quality of life of its residents.
One other city in the Middle East and Africa – Nairobi – came in the top 20, falling in fourth place.
“It is great to see the MEA region represented in the top 20 ranking of the momentum index, driven by government initiatives,” said Thierry Delvaux, CEO of JLL MEA. “These cities are leading the way by successfully addressing infrastructure needs to further enhance mobility, while creating thriving, inclusive, safe and affordable communities.”
Delvaux added that “moving forward, we will see real estate play a more important role in smart-city futures, driving greater energy efficiency, and promoting sustainable, scalable and smart developments”.
The JLL rankings show a significant shift from west to east, with Indian, Chinese and Vietnamese cities dominating the top positions.
India, for example, had seven cities in the top 20, with Hyderabad and Bengaluru coming in the first two positions for short-term momentum.
Additionally, one-fifth of the top 20 cities are in China, with Shanghai being the only city to feature in the top 20 throughout the past seven years.