Hyderabad has been ranked as the second-most dynamic city in the world, by the World Economic Forum. Among the top 20 most dynamic cities in the world, six Indian cities are featuring in the list, which is yet to be released by the JLL City Momentum Index (CMI).
Bengaluru has topped the charts, followed by Hyderabad, while Delhi has bagged the 4th position. Pune (5), Chennai (7) and Kolkata (15) have also made the cut respectively.
As per the WEF report, “The rankings track a range of socio-economic and commercial real-estate indicators to identify attributes for success over the short term.”
There are many factors which are responsible for the position achieved by Hyderabad, which include massive strides in start-ups, ease of doing business, better environmental standards than other metros, and the existence of many scientific institutions. The experts at Modi Builders, one of the top builders in Hyderabad, have also contributed significantly in the real estate market to help the city achieve this feat.
Real estate market undoubtedly plays an important role in the rankings, as it is one of the few billion dollar industries in India. Recently, Hyderabad ranked among top five cities in the world to have witnessed a sharp rise in the value of residential properties in the 12-month period.
Last year’s City Momentum Index rankings, which included parameters like innovation capability, start-ups, patent applications, public infrastructure and quality of environment, were also considered.
After performing well for the past three years, Hyderabad is expected to continue in the same fashion, suggest experts at Modi Builders.
Hyderabad’s ranking has been gradually increasing in the CMI, which will be publishing its sixth version this year. The city could not find a spot among the top-20 cities in the JLL CMI-2015. However, it managed to find a place among the top 34 cities in the Asia-Pacific region.
In 2017, Hyderabad was ranked 5th among the top-20 cities, before climbing to the 1st place in 2018. Ranking 2nd in this year’s report, Hyderabad has managed to stay in the top 5 for the third consecutive year.