Posted on 23 Jan 2017
If you live in Bangalore, then you have every reason to be thrilled about. Ranked as the most dynamic city in ‘Jones Lang LaSalles’ fourth annual city Momentum Index of cities around the world, Bangalore has raced ahead beating Ho Chi Minh city of Vietnam and Silicon Valley in the US.
The index records the pace of growth of a city’s economy and the commercial real estate market. The list includes a total of 134 prominent and established business hubs and cities that have the potential to show great dynamism over a long period.
Bangalore being the Silicon Valley of India, is well known for its ability to embrace and adapt to technological changes, the capability to accommodate the rapid population growth and its strategic geographical location.
The rankings are structured on various parameters such as technology and R&D, connectivity, output, corporate activity, education, and real estate traction. As per the statement released by JLL in the World Economic Forum, the city has been monumental in integrating change and technology in its DNA.
The driving factor for Bangalore’s positioning has been validated mainly due to its higher-value manufacturing industries and service-based establishments. The ranking of the city has significantly improved since 2015, the first year the city had been featured. Moving from the 15th to 4th and finally topping the list as the most dynamic city in world.
Availability of land parcels, an established IT sector and a vibrant start-up culture, the city is set to continue to its growth and diversity in the years to come. This is also a major boost for the city at a global level for that can attract collaborations and more investments.
The city has witnessed its largest growth rate in the last twenty years, with the highest number of affiliated universities and a diverse population with a significant percentage of crowd from different parts of the country. Bangalore is global cosmopolitan city in all rights.
Real estate has been an important contributor to this enormous feat, with the city being the top real estate market in India with 3 & 4 Bhk luxury flats in Koramangala and areas of the city, beating Mumbai, Delhi, and Hyderabad. With an increasing establishment of apartments in Koramangala and other prime locations, the city is the top choice for commercial and residential investments.
Key localities of the city such as Koramangala, White Field, Sarjapur and JP Nagar have witnessed a steady increase in the appreciation of property value, a direct correspondence to the city’s growth rate.
With investments from major players and the right resources to offer, Bangalore’s dynamism is here to stay and make an impact.