- Broker Directory
- My Tools
- News & Advice
- Market Trends
- Other GN Sites
Dubai has been recognized as one of the world's most dynamic cities by Jones Lang LaSalle's (JLL) City Momentum Index (CMI). The emirate ranks third in the index behind San Francisco and London, while ahead of other well-known cities such as New York, Hong Kong and Singapore.
The top cities were recognized for demonstrating the combination of strong short-term socioeconomic and commercial real estate momentum and longer-term foundations for success.
''City momentum is about far more than just raw GDP growth.'' said Jeremy Kelly, Director of Global Research at JLL. ''The true foundation of highly dynamic cities emerges from such factors as speed of innovation and creation of cutting-edge businesses along with new building construction, property price movement and investment in real estate from cross-border investors and corporations.
''The new City Momentum Index offers a fresh and uniquely comprehensive perspective that identifies the signals of change and characteristics of city momentum. It is such measures of dynamism in infrastructure, connectivity and innovation that we believe will be steering many investment and location decisions in the future, though investors and corporates should note that high momentum can pose both risk and opportunity.''
The City Momentum Index assesses 111 cities worldwide with a weighted overall score based on 34 short-term and longer-term variables.
Alan Robertson, CEO of JLL Middle East and North Africa (Mena), said: ''Our new index provides clear evidence to support the view that Dubai is one of the world's most dynamic cities. Events such as the World Expo 2020, along with Dubai's strong global connectivity and growing status as a service hub, will support sustainable momentum over the longer-term horizon.''
Global top 20
1. San Francisco
6. New York
8. Hong Kong
9. San Jose
15. Los Angeles
Source: Property Weekly, gulfnews.com