Mumbai, Delhi and 7 other Indian cities have featured in the list of top 300 global cities which are the focus of commercial activity and interest. This list has been compiled by real estate services firm Jones Lang LaSalle (JLL).
More Information on JLL’s Global 300 List:
The 300 global cities featured in the list account for 40% of the world’s economy and almost 75% of global real estate investment.
- On Commercial Attraction Index, New York has ranked 1st, whereas in terms of Economic Size, Tokyo has ranked 1st.
- In terms of economic size, Mumbai and Delhi accounted for a Gross Domestic Product (GDP) of more than $400 billion. Mumbai is 5th and Delhi is 6th largest city in Asia in terms of economic size. Tokyo, Shanghai, Seoul and Jakarta are the top 4 cities of Asia.
- Owing to large population, both Mumbai and Delhi lag behind their global counterparts, in terms of GDP per capita. Asian cities Shanghai, Beijing, Seoul, Singapore and many American cities have per capita incomes that are three to four times larger than Mumbai and Delhi.
- In terms of corporate presence Mumbai is ahead of major commercial hubs like San Francisco, Shanghai, Sydney, Singapore, Washington, Atlanta and Toronto. Delhi, too, is ahead of cities like Guangzhou and Frankfurt.
Real Estate Investment in Mumbai and Delhi:
Over the past three years, Mumbai and Delhi have attracted $1.7 billion and $0.6 billion of real estate investment
- Owing to such low figure, Mumbai and Delhi did not find place in ‘Global Top 100’ real estate investment destinations.
- However, recent reform initiatives undertaken by the Indian government such as RERA, REITs, simplification of taxation and easing of FDI restrictions, are expected to improve the investment flows in future.
Nine Indian Cities in JLL’s Global 300 List – In Terms of Economic Size: