Jones Lang LaSalle's City Momentum Index 2020 has named Manila as one of the world's most dynamic cities.
Hyderabad topped the list along with other Indian cities such as Bengaluru, Chennai, Delhi, and more. While in Southeast Asia, Ho Chi Minh City, Hanoi, and Manila exhibited remarkable dynamism.
The index describes Manila favorably: "Advantageous demographics, a robust domestic economy and a skilled talent base are supporting a dynamic real estate market. Business Processing Outsourcing (BPO) is driving office net absorption, as the sector moves into higher-value activities such as animation, gaming, and healthcare."
The index takes socio-economic and commercial property metrics to "provide fresh insights into the rapidly evolving geography of business activity." Since Jones Lang LaSalle is a real estate company, the list sees Manila's growth as a resilient and responsible city from a real estate perspective. Check out the list below.
- Ho Chi Minh City
- Silicon Valley
Fast-paced cities like those in the list, however, will soon face the greatest challenges that come with rapid urban growth. These include environmental degradation, congestion, overcrowding, social inequality, homelessness, security, and affordability.
The on-going construction work that Manila is undergoing will definitely solve congestion and unbalanced development, but climate change and the rising sea levels will be a major problem in the near future.
* This story originally appeared on Esquiremag.ph. Minor edits have been made by the Preview.ph editors.