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Recognizing that commercial real estate is no longer just a consequence of a city’s success but a driver of it, Jones Lang LaSalle has identified San Francisco, London, Dubai, Shanghai and Wuhan at the forefront of cities that demonstrate the combination of strong short term socio-economic and commercial real estate momentum and longer term foundations for success. In its new, proprietary City Momentum Index (CMI), Jones Lang LaSalle goes beyond traditional, static economic rankings to delve into the underlying drivers that are the hallmark of highly dynamic cities.
According to Jeremy Kelly, Director, Global Research for Jones Lang LaSalle: “City momentum is about far more than just raw GDP growth. The true foundation of highly dynamic cities emerges from such factors as speed of innovation and creation of cutting-edge businesses along with new building construction, property price movement and investment in real estate from cross-border investors and corporations.