NAIROBI, Kenya, Jan 9 – Nairobi has been ranked the sixth most commercially active city in the world according to JLL’s city Momentum Index.
The index tracks urban economies and real-estate markets that are currently undergoing the most rapid expansion.
Nairobi is the only city outside of Asia Pacific as this year’s ranking finds the fastest urban growth continuing to shift away from the West to the East.
However according to the index even in Nairobi, there is a strong Asian influence, with significant amounts of investment from China, particularly focused on infrastructure projects.
Other cities in the top 10 include Bengaluru, Hyderabad, Hanoi, Delhi, Chennai and Guangzhou among others.
“Cities that are growing rapidly tend to punch above their weight in attracting companies and people; however, this can often lead to social inequality, congestion and environmental degradation,” the report states.
According to the report, Nairobi is projected to have one of the fastest-growing populations in the world over the next five years.
“The authorities there are turning to smart technologies to help cope with overcrowding, traffic congestion and inefficiency in transportation around the city,” reads the report.
Others in the top 20 include Bangkok, Shanghai, Hangzhou, Manila, Shenzhen, Chengdu and Nanjing among others.