By MST Business | Jan. 08, 2015 at
10:35pm [ manilastandardtoday.com ]
Metro Manila has replaced Madrid to
join the list of the world’s top 30 cities, with largest business centers and
real estate markets.
Real estate services firm JLL included
Manila in its prestigious JLL Global Top 30, which lists the bedrock of global
commercial real estate activities.
“The cities comprising the Global Top
30 have remained broadly consistent since 2012. Manila is a new entrant to the
Top 30, while Madrid has fallen out, which is symptomatic of the steady shift
in the balance of real estate activity towards the Asia Pacific region,” JLL
said in its 11-page report. JLL said Manila joined the list as a new entrant on
the back of the city’s strong growth as a business process outsourcing
destination.
JLL identified four super cities,
including Tokyo, New York, London and Paris.
It listed 13 mature cities, including Los Angeles, Chicago, Washington
DC, Hong Kong, Atlanta, Dallas, Singapore, San Francisco, Houston, Toronto,
Boston and Sydney.
Manila is grouped under emerging
cities that also include Seoul, Shanghai, Beijing, Moscow, Sao Paulo, Jakarta,
Istanbul, Guangzhou, Bangkok, Mexico City, Delhi and Mumbai.
“Despite the increasing choice of
cities, commercial real estate activity continues to be highly concentrated
into the Global Top 30 cities, which are the destination of over half of total
commercial real estate investment into the Global 300,” JLL said.
________________________________________________________
