JLL’s City Momentum Index (CMI), now in its fifth yr, tracks a big selection of things to discover cities which might be positioned for achievement within the short and long run.
The two components (short-term and long-term) of the CMI enable cities to be grouped in keeping with their short-term economic and real estate dynamics, in addition to the extent to which they’ve built the future-proofing capabilities crucial for long-term success.
The index covers 131 of the biggest existing and expanding business centres world wide, measuring each city’s short-term socio-economic and business real estate dynamics, in addition to its ability to “future-proof” – that’s, its ability to take care of that dynamic over the long term.
This yr, for the primary time, CMI is specializing in cities which have the characteristics crucial to administer and profit from this rapid technological change in the worldwide economy, and is assessing their potential to secure the long run – potential based on aspects equivalent to the capability for innovation, talent, and world-class higher education; high levels of technology start-ups and scale-ups; patent applications; public infrastructure; and environmental quality.
As expected, the newest rating by real estate advisory firm JLL includes few countries from the Southeast Asian region:
SHORT TERM TOP 30 MOMENT
In this category, the CMI Short-Term Momentum rankings discover the town economies and real estate markets which might be currently experiencing the fastest growth. They highlight the continued growth of Asia-Pacific cities as destinations for global capital, trade and innovation, with markets within the region accounting for 25 of the world’s 30 largest markets:
| RANK | COUNTRY |
| 1 | Hyderabad |
| 2 | Bangalore |
| 3 | HO CHI MINH CITY |
| 4 | Pune |
| 5 | Calcutta |
| 6 | HANOI |
| 7 | Nankeen |
| 8 | Delhi |
| 9 | Hangzhou |
| 10 | Xi’an |
| 11 | Nairobi |
| 12 | Chongqing |
| 13 | Wuhan |
| 14 | Chennai |
| 15 | Shanghai |
| 16 | Canton |
| 17 | Tianjin |
| 18 | MANILA |
| 19 | Shenzhen |
| 20 | Bombay |
| 21 | Chengdu |
| 22 | Beijing |
| 23 | JAKARTA |
| 24 | KUALA LUMPUR |
| 25 | Lagos |
| 26 | SINGAPORE |
| 27 | Dubai |
| 28 | BANGKOK |
| 29 | Seattle |
| thirty | Bucharest |
The variables measuring this indicator included: population, connectivity, real estate investment, real estate prices, economic performance, business activity, construction and retail sales.
The most significant events include:
1. Vietnamese cities Ho Chi Minh City (third place) AND Hanoi (6.) attract significant amounts of foreign direct investment (FDI) as they integrate into regional and global supply chains for high-tech manufacturing. This helps spur rapid economic and income growth, resulting in among the world’s highest growth rates in retail sales and air passenger numbers.
2. Asian “Megahubs” that act as regional gateways and have the dimensions to compete for talent, visitors and innovation – including Manila (18th), Jakarta (twenty third), Kuala Lumpur (twenty fourth) and Bangkok (twenty eighth) – proceed to thrive with significant economic momentum. Offering significant growth potential, these cities are key expansion markets for a lot of corporations and are of particular interest to Chinese firms as they internationalize. They even have among the highest levels of property completions on this planet as they construct infrastructure to fulfill this demand.
GLOBAL TOP 30 – PREPARING FOR THE FUTURE
In this category, Singapore ranks twenty ninth The company has complemented its established position in high-tech hardware manufacturing with a greater deal with software innovation, supported by high R&D spending and a powerful education system.
Regional headquarters for among the world’s largest technology firms, and residential to R&D centres for Google, HCL and Infosys, in addition to one in every of Asia’s largest tech startup scenes, the federal government’s commitment to promoting recent technologies – equivalent to piloting NuTonomy, the world’s first autonomous taxi service – also positions it solidly for the long run.
The variables measuring this indicator included: technology firms, education, environment, transparency, infrastructure and international patents.
SHORT TERM MOMENT VS. FUTURE PROTECTION
Overall, rating in the highest thirty best on this planet in each categories (twenty sixth for short-term economic and real estate dynamics and twenty ninth for efforts to secure the long run for long-term success) Singapore is identified as the one Asia-Pacific city positioned within the “best place”.
Rising levels of worldwide trade have boosted economic dynamism and helped to enhance corporate demand, with net office absorption doubling in 2017 in comparison with the previous yr. Singapore is predicted to record the strongest rental growth of any major global office market in 2018.
Source : https://property.bangkokpost.com/news/1436450/bangkok-ranks-28th-in-city-momentum-index
