Dubai – “ASWAQ”
Dubai has been named as one of the most dynamic cities in the world, as reported in JLL’s City Momentum Index (CMI) 2017.
Dubai appeared 11th in the Global Top 30, just behind Nairobi (10th) and London (6th), while Indian powerhouse Bangalore topped the list, followed by Ho Chi Minh City, Silicon Valley, Shanghai and Hyderabad. Three other European cities also sit in the Global Top 30 – Paris (17th), Dublin (28th) and Stockholm (30th) – while Tokyo and Seoul, which appeared in the top 20 in CMI 2016, have dropped out of the top positions, and now being placed in the mid-30s.
The Index is based on key ingredients of the population, connectivity, technology and R&D, education, environment, real estate investment, property prices and economic output, on 134 major established and emerging business hubs all over the world.
The annual report identifies the fastest-changing cities across the globe, tracking the speed of their changing economy and commercial real estate market, while establishing hubs that have the most dynamic attributes over the short and long-term.
JLL’s CMI 2017 report highlights remarkable dynamism in major global cities, many of which are consistently outperforming their national economies, despite challenges and a world of heightened risk.
The Asia Pacific region is reported to be home to more than half of the world’s 30 most dynamic cities and real estate markets. While the Middle Eastern and African cities struggled to maintain momentum, with many hit by the slump in energy and commodity prices, except Dubai which has re-appeared in the Global Top 30, having dropped out of the top group in recent years.