Bengaluru is World’s Most Dynamic City

[vc_row][vc_column][vc_column_text]

Every time Bengaluru adds to its reputation, industries in Peenya Industrial Area feel proud because they have a major stake in it. After winning many encomiums such as India’s Silicon City, Knowledge City, Aviation City, Start-up City, and Innovation City, Bengaluru has now been ranked as the most dynamic city in the world. Remarkably, it is ranked even ahead of Silicon Valley and Boston in the US, in a study by independent property consultancy Jones Lang LaSalle (JLL).

“We are all deeply proud of being a part of the most dynamic city in the world,” exulted Sri R. Krishnamurthy, President, PIA. “I think this is a combined achievement of many stakeholders, the IT community, the creative enterprise and hard working entrepreneurs of Peenya Industrial Area, and of course, the State government and bureaucrats.”

According to the study, the index of ranking comprises 42 variables spread across the socio-economic and development spectrum and despite this stiff challenge, Bengaluru beat the rest of the cities.

As per the report, Bengaluru has improved its ranking ever since it first featured in JLL’s City Momentum Index (CMI) in 2015. From being ranked 12th, it climbed to the 4th position last year, helped by high demand for commercial office space, an established IT sector, a vibrant start-up system and the expansion of the metro railway network.

The ranking is based on a broad range of real estate and socio-economic factors. Bengaluru’s positioning has been particularly driven by ts successful transitioning to higher-value manufacturing and service-based activities.

The list, which features 30 cities, also includes five other Indian cities including Hyderabad (5), Pune (13), Chennai (18), Delhi (23) and Mumbai (25).China has five cities in the list.”India has taken over from China as home to some of the world’s most dynamic cities,” the report said.

JLL said the overriding factors that characterize the world’s most dynamic cities are technology and innovation -and cities that best absorb, adapt and leverage these drivers come out on top.

JLL’s CMI tracks the speed of change of a city’s economy and commercial real estate market. It covers 134 major established and emerging business hubs and identifies cities that have the potential to maintain the greatest dynamism over the short and long term.

[/vc_column_text][/vc_column][/vc_row]