Dubai, Riyadh, and Nairobi named among Top 20 most dynamic cities
Dubai claims the 14th spot on JLL's City Momentum Index, which ranks countries on innovation hubs and urban planning
Dubai, Riyadh, and Nairobi ranked within The World's Top 20 Dynamic Cities, according to real estate and investment management firm JLL's City Momentum Index.
The index ranks countries according to talent attraction, expansion of innovation hubs, and urban planning.
Cities in the Middle East and North Africa region (MENA) are fast-emerging as dynamic in real estate, the report stated.
Dubai rose to the 14th position, securing a Top 20 place for the first time in three years. The city is expected to gain more momentum in the index leading up to the Expo 2020 Dubai, the world's greatest show, which is due to begin on October 20, 2020.
Nairobi has been ranked fourth on the list, while Saudi Arabia's capital claimed the 18th spot.
The report states that Dubai government initiatives such as the relaxation of visa regulations have balanced out the construction boom in commercial and residential properties.
Benefitting from Saudi Arabia's 'Vision 2030' programme of economic reforms, Riyadh has also entered the Top 20 for the first time.
Saudi Arabia's initiatives to combine better infrastructure and entertainment with tourism expansion regulations aims to contribute towards a positive real estate market.
Riyadh touts an ambitious infrastructure plan, with its metro network - due in 2020-2021 - expected to transform the city's mobility.
Commenting on the index, the chief executive officer of JLL MEA, Thierry Delvaux, said: “These [ranked] dynamic cities are leading the way by successfully addressing infrastructure needs to further enhance mobility, while creating thriving, inclusive, safe and affordable communities. Moving forward, we will see real estate play a more important role in smart-city futures, driving greater energy efficiency, and promoting sustainable, scalable and smart developments."
The report indicates a continued shift in global influence with Indian, Chinese and Vietnamese cities dominating top positions. Despite an economy slump last year, India is leading the index, with seven of its cities among the Top 20.
One-fifth of the world's Top 20 dynamic cities are in China, according to the index. Shanghai has been the only city to feature in the Top 20 for the past seven years consecutively.