Bangalore: India’s Silicon Valley Bangalore has much to cheer. It has been named the ‘most dynamic city’ beating some of the top cities in the world. According to JLL’s City Momentum Index, Bangalore topped the charts and even managed to beat US’s Silicon Valley which emerged 3rd on the list. The ranking is based on a broad range of real estate and socio-economic factors. It doesn’t gauge the ‘best city’ but highlights city’s that are best positioned to compete in today's ever-changing economic landscape.
Edge above the Rest
Bangalore is said to have had the edge above the rest as it has an established IT sector, it is a vibrant start-up hub and also has an ever growing demand for commercial office spaces.” Bangalore has scored a lot in terms of it being a tolerant city, people friendly in terms of technologies used in day to day affairs and transparency in terms of real estate as well as governance” said Ashutosh Limaye, Head-Research & REIS at JLL, an international consulting company that conducted the study.
Cities were scored on 42 variables under 3 different criteria’s such as socio-economic momentum, commercial real estate momentum and long-term momentum. Parameters like Economic output and Population were considered under the socio-economic metrics. Transparency and Absorption rates were identified for the commercial real estate metrics. Higher education, Infrastructure, and environmental quality were some of the factors considered under the long-term momentum.
‘Govt & Industries Co-Working’
Industry experts cheered this new recognition and said that it is Bangalore’s ability to adapt to new technology and the availability of talent in abundance which has worked for the city. Suresh Hari, Secretary at CREDAI, Bengaluru is of the view that the government’s efforts to push infrastructure and feed the demands of the industry has helped in achieving this tag.
Indian cities seem to have overtaken China this time around with 6 cities in the list of top 30.Hyderabad has emerged 5th, whereas Pune and Chennai beat New York, Paris, and San Fransisco to make it in the top 20. And Even though among the top 30 factors such as poor environmental quality and affordability pushed New Delhi to 23rd and Mumbai to the 25th Position respectively.