Delhi and Mumbai are among the top 30 super cities of the world, says report of JLL
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Two major Indian cities; Mumbai and Delhi have made their entry into the top 30 list of the world’s most productive, powerful and well connected cities.
Global Top 30 List:
According to research report of JLL India, the international real estate consultancy, Mumbai which is also the financial capital of country has been ranked 22nd whereas; our national capital Delhi has been ranked on the 24th spot in the list of 30 super cities of the world. However; in the list the top five cities were; Tokyo, New York, London and Paris. The Tokyo, New York, London and Paris are the cities which are the destination of more than 50 per cent of all foreign capital investment, says Global Top 30 list of JLL India. According to JLL, “All top 30 cities account for 64 per cent of the total cross-border investment as their common interest are commercial attraction or economic attraction and real estate power and status.
List of Improvers:
Apart from that Mumbai is also ranked in the top 10 list of “Improvers” that needs more development and past one year has increased the commercial attraction. However; the other cities which have increased the commercial attraction includes; Tehran (Iran), Madrid (Spain), Riyadh (Saudi Arabia), Milan (Italy), Jeddah (Saudi Arabia), Lagos (Nigeria), Cairo (Egypt), Jeddah (Saudi Arabia), Istanbul (Turkey) and Jakarta (Indonesia).
.According to the reports of JLL India, with growth of more than 7 percent in the cities over past three years, it is no wonder that Mumbai and Delhi has made its entry into the Global Top 30 list with strong presence. The more they added that these reforms are undertaken by the government and it is boosting the confidence in the economy of nation. According to reports, the Mumbai is making its strong presence into the hub for global corporations with the help of firms which are among the world’s 2,000 largest companies and they all have headquartered in the city by rising 50 per cent over the last 10 years. The index of commercial attraction is the primary benchmark of JLL in terms of size and strength of the city’s real estate market and economy development. As per the statement of Anuj Puri, Chairman and Country Head of JLL, “In Mumbai construction levels are high and it is increasing the Grade-A stock by 26 percent in last three years and it is expected that in next three years it will add more 22 percent. Apart from that Mumbai is also enhancing its position as a hub of global corporations because here you can easily find the headquarters of world’s 2,000 largest companies.
List of Global 300 Cities:
In context of the Global 300 cities, Mr. Puri stated that cities which make up the Global 300 are the world’s most productive¸ connected and powerful. Their 1.3 billion citizen’s account for nearly 40 percent of global economic activity, more than Europe and North America combined. These cities have hosted that more than 88 percent of the headquarters of the world’s 2,000 largest listed companies, which are able to generate the 40 percent of the world’s finance as well as business employment. In this list you can see the overwhelming focus of international corporations, hotel brands, real estate investors and retailers. The Global 300 cities are representing the bulk of commercial real estate market activity.
