Manila rose to the 8th spot this year from 12th in 2019 and 18th in 2018 in the list of dynamic cities in 20 Asia-Pacific urban centers, according to the JLL City Momentum Index report released yesterday.
JLL’s proprietary index that combines a broad range of indicators to identify cities with the strongest short-term economic and commercial real estate momentum.
Covering 130 cities, the index enables real estate investors, developers and corporate occupiers to evaluate a city’s dynamism and short-term growth prospects.
In terms of real estate, Manila ranked 48th, with prime rental growth of +3.8 percent per annum average for 2020-2022 (19th globally), office net absorption of 7.3 percent ( percent of stock, 14th globally), and hotel construction of 15.6 percent ( percent of stock, 14th globally).
JLL said Asia Pacific is home to the most dynamic urban centers in the world with three-quarters of the world’s top 20 cities in the region.
The results show a continued shift in global influence from west to east, with Indian, Chinese and Vietnamese cities dominating the top positions. India — with seven cities in the top 20, the most of any country — leads the 2020 Index, despite last year’s slowdown of the nation’s economy.
