GLL, the global real estate investment and advisory company, has released the '2020 Urban Moment Index', which highlights the most dynamic and dynamic cities in the world from the perspective of the real estate market.
According to the index, Dubai and the Saudi capital, Riyadh, were among the 20 most dynamic cities in the world.
In its seventh edition, the annual index combines the criteria for assessing social, economic and commercial factors related to the real estate market in 130 global cities.
According to the index, Dubai, which ranked 14th in the rankings, continued to maintain its position as a major business center in the Middle East, as the emirate entered the list of the 20 most dynamic cities in the world three years ago.
The index pointed to the average age in Dubai, which ranges between 20 and 40 years for more than half of the population, which is the second highest percentage of young people in a large city in the world, pointing to the launch of the Dubai government many initiatives, including the initiative to facilitate the regulations and rules for granting visas.
The index report expected that Dubai will witness more momentum with the approach of the launch of the events of "Expo 2020 Dubai".
For its part, the Saudi capital, Riyadh, entered the list of the top 20 cities for the first time in its history, and ranked 18th thanks to the "Kingdom's Vision 2030" program and the economic reforms it aims to diversify the economy away from dependence on oil, as well as many initiatives to improve the standard of living Quality of life through improving infrastructure and developing leisure destinations.
The index report pointed out that the ambitious infrastructure development plans are a common factor between Dubai and Riyadh, and said: “The momentum in the infrastructure development projects in Dubai is partly due to (Expo 2020 Dubai), while the planned opening of the Riyadh metro network is expected to lead within a year. 2020 - 2021 to transform the concept of city mobility ».
The report pointed out that the city of Nairobi (fourth place) has succeeded in maintaining its place among the list of the 20 most dynamic cities in the world over the past six years, which reflects its position as one of the most active and vital city economies in Africa, pointing out that it is the only city that has appeared on The index is in the list of 20.
He stressed that the momentum in the Nairobi economy is supported by the favorable demographics and investment in infrastructure, technology, tourism and retail trade.
Terry Delvo, CEO of JLL Middle East and Africa, said: “Governmental initiatives have contributed to enhancing the presence of cities in the Middle East and Africa on the list of the 20 most dynamic cities, and this distinction is due to cities by keeping up with the infrastructure needs to enhance their transportation levels. , And build prosperous, inclusive, safe and affordable urban communities. ”
He continued: In the next stage, we will see that real estate plays a more important role in the future of smart cities, which leads to increased energy efficiency and the promotion of sustainable, scalable and smart development projects.
Globally, the results showed that the global influence has continued to shift from west to east, with Indian, Chinese and Vietnamese cities taking the lead on the index.
In spite of the economic slowdown experienced by India in 2019, the Indian cities dominated the index in 2020, as seven Indian cities were included in the list of the 20 most dynamic cities, making India the highest representative country in the index list.
China also continues to play an important role in driving the global momentum, with four of its cities on the list of the 20 most dynamic cities in the world. It should be noted here that Shanghai is the only city that has maintained its place among the 20 most dynamic cities during the last seven years of the index.