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News Release

​Chicago, London, Singapore

City winners and city beginners

​JLL assembles and analyses the widest range of comparative studies on city performance to date to reveal which cities top the table - and who to watch


​Chicago, London, Singapore, 12 May, 2015 – Istanbul is consistently the most improved city since 2010 according to new research released today by global real estate firm JLL in partnership with The Business of Cities Group. The report, which analyses over 200 globally recognised city performance indices1 to understand the comparative performance of cites, also identifies New York, London, Singapore, Paris and Hong Kong as the top 5 performing cities across six leading all-round indices.

While there has broadly been stability at the top of the global rankings, further down has seen high levels of flux in the past three years, as cities readjust to the geography of global opportunity. 

Across six leading indices covering everything from financial services to city image, Istanbul is the most consistently improved over the recent time frame. In particular it has cemented its status as a diversified onshore provider of financial services, and has regularly overtaken medium-sized established cities owing to its scale and gateway functions. Moscow ranked 2 in the list of top 5 improving cities since 2010 across six indices. Other cities to show marked progress since 2010 include Mumbai, Seoul and Dubai.

Tom Devonshire-Griffin, Managing Director, JLL, Russia & CIS, comments: “Moscow’s growing importance is reflected in several recently released indices; – Russia’s capital city is second only to Istanbul in the list of top five improving cities since 2010 across six indices. These indices highlight that, despite the current economic challenges, Moscow continues to have many of the essential ingredients for long term success, including human capital, lifestyle and innovation. These factors are also important for the success of Moscow real estate market, which is fundamentally strong but undersupplied with quality stock compared to most other global metropolises. Moscow is the centre of real estate investment in Russia comprising, on average, almost 80% of Russia’s total real estate investment volumes. This is likely to continue at these high levels, as Moscow is the most developed market in Russia.”

Top five improving cities since 2010 arcross six indices*

Top five most improving cities since 2010 across six indices_12052015.png

​​​Source: JLL

“In the 21st century, the pace at which new cities arrive on the global scene is faster than ever. In the new cycle of globalisation, emerging cities such as Ho Chi Minh, Nairobi and Delhi are increasingly seeking to enter the global economy and accelerate growth through innovation and technology start-ups.” Said Rosemary Feenan, International Director, Global Research at JLL. “Similarly, mature innovation centres such as San Francisco, San Jose, Boston, Tel Aviv and Cambridge and high quality of life cities, such as Stockholm and Zurich, are also combining their infrastructure and educational assets to become genuine start-up hubs to help cement and accelerate their position on the world stage.”

Singapore and Stockholm are among the major improvers at the top of the city rankings in the last two years. Singapore’s success story has taken on new dimensions as it overtakes Tokyo and Paris in a majority of leading indices for the first time. It leads the Asian charge in higher education, mobility, science, broadband and technology platform indices, and is the world ‘number one’ city for business friendliness. The city’s brand rankings also indicate that it is beginning to shake off its reputation for a lack of vibrancy among expats and tourists.

Stockholm’s consistency across growth, knowledge and quality dimensions has seen it steadily improve its position, especially within Europe. The Swedish capital is now not only among the world’s best for governance, urban planning and sustainability, but also displays strong cluster effects. Unusually among its peers, both its ICT and manufacturing sectors have grown their GVA by around 25% since 2008.2

“It has never been more important to understand city performance. The ability of cities to attract investment, manage their growth, and deliver quality of life will define the character and ultimately the success of the ‘metropolitan century’.” Said Greg Clark, Chairman, The Business of Cities and JLL’s Cities Research Center. “In aggregate, benchmarks and indices can offer real insight into the pathways and strategic opportunities for cities, and for those living and working in them. The improved performances of Istanbul, Santiago and Seoul illustrate how cities can, and do, alter their positions in indices over time. Changes have been achieved by lifting standards, altering perceptions, supplying new information, engaging in partnerships, adding new rankings, and through many other mechanisms.”

Top 15 cities across six leading all-round indices_12052015.png

 

Source: JLL​​​


Notes to Editors:

The report is an update of JLL’s The Business of Cities 2013 publication

1The 20 most robust indices

The 20 most robust indices_12052015.png ​

2 LSE Knowledge Exchange and LSE Cities (2015). European MetroMonitor. http://labs.lsecities.net/eumm/home/ 


About JLL

JLL (NYSE: JLL) is a professional services and investment management firm offering specialized real estate services to clients seeking increased value by owning, occupying and investing in real estate. With annual fee revenue of $4.7 billion and gross revenue of $5.4 billion, JLL has more than 230 corporate offices, operates in 80 countries and has a global workforce of approximately 58,000. On behalf of its clients, the firm provides management and real estate outsourcing services for a property portfolio of 3.4 billion square feet, or 316.0 million square meters, and completed $118 billion in sales, acquisitions and finance transactions in 2014. Its investment management business, LaSalle Investment Management, has $55.3 billion of real estate assets under management. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated.

In Russia and CIS JLL has offices in Moscow, St. Petersburg and Kiev. JLL, Russia & CIS was voted Consultant of the Year in 2004, 2006, 2007, 2008, 2009, 2010, 2011, 2012, 2013, 2014  and 2015 at the Commercial Real Estate Awards, Moscow; Consultant of the Year at the Commercial Real Estate Awards 2009, St. Petersburg; Consultant of the Year at the RCSC Awards in 2015, and The Best Real Estate Consultancy in Ukraine at the Ukrainian Property Awards in 2013.

For further information, visit www.jll.ru