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Hanoi, HCM City among most dynamic growing cities

Hanoi and Ho Chi Minh City remained among the global Top 10 most dynamic growing cities in JLL’s Short-Term City Momentum Index (CMI) 2019, which tracks socio-economic and commercial real estate growth in 131 cities over a three-year period.
Hanoi, HCM City among most dynamic growing cities ảnh 1HCM City ranks eighth among the global Top 10 most dynamic growing cities in JLL’s Short-Term City Momentum Index (CMI) 2019. (Photo: congan.com.vn)

Hanoi (VNA) – Hanoi and Ho Chi Minh City remained among the global Top 10 mostdynamic growing cities in JLL’s Short-Term City Momentum Index (CMI) 2019,which tracks socio-economic and commercial real estate growth in 131 citiesover a three-year period.

Hanoi was rankedthird while HCM City was ranked eighth, making Vietnam the strongest performerwith two cities ranking the highest in ASEAN, said JLL.

In its report, JLLsaid that the two cities in Vietnam performed very well for socio-economicmomentum, with fast-growing populations and economies.

"HCM City isgenerally viewed as the more business-friendly destination attracting moreoverseas investment along with a higher corporate presence, whereas Hanoi haslagged commercially but is a city that is swiftly evolving."

On the real estatefront, Vietnam has "a small real estate investment market struggling withissues such as low transparency and a limited volume of investment gradestock," JLL added.

However, steps arebeing taken to improve transparency, such as enhanced access to the landregistry, better valuation practices and increasing application of greenbuilding certification system, it said.

Two other ASEANcountries also made the top 20 list in JLL’s index. The Philippines wasrepresented by Manila in 12th place and Thailand by Bangkok in 18th place.

According to JLL,the City Momentum Index looks at 20 indicators including recent percentagechanges in city GDP, population, air passengers and corporate headquarterspresence; projected percentage changes in GDP, population and retail sales; andrecent levels of and changes in foreign direct investment, as a proportion of acity’s economy.

Other were recentand projected percentage changes in office net absorption, office rents, retailrents and hotel rooms; international retailer presence; and recent changes indirect commercial real estate investment volumes and real estatetransparency.-VNA
VNA
#Hanoi#Ho Chi Minh City#Top 10 most dynamic growing cities#JLL’s Short-Term City Momentum Index#ASEAN#Vietnam#Vietnam news#Vietnam News Agency
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