Ghana, Nigeria Miss Out in World’s Cities Ranking Report

Amsterdam, Neitherland

January 24, 2018//-A report released by a global real estate firm, Knight Frank on world city ranking does not include any city in Ghana and Nigeria.

Globally, judging from house prices to financial sector activity to the number of tech start-ups, certain cities like London, Hong Kong, and New York often dominate many ranking dominate and surprisingly too, they have been popular with international real estate investors in recent years.

However, there are other cities, which are as well run, have very similar economies to these big centres, and in some cases offer better growth prospects.

According to Knight Frank, these cities are not popular, yet they possess potentials to command world attention in the nearest future.

Pittsburgh

A fast rising tech market, Pittsburgh has seen more than 70 IT-focused firms headquartered in Silicon Valley and elsewhere, open local offices over the past 10 years. Amazon, Apple, Facebook, Google and Uber are among the users that have caused rents and property values to surge.

The energy, financial and business services, healthcare and life science industry sectors remain well represented within Pittsburgh. However, the city’s status as a growing technology hub, and hotbed for artificial intelligence and autonomous vehicle development, is triggering unprecedented revitalization.

Amsterdam

Amsterdam is an increasingly attractive destination for investors seeking an alternative to more expensive European markets such as London, Paris and Berlin. High office vacancy rates were previously a concern for those looking to deploy capital, but availability is now rapidly tumbling and supply shortages have emerged in the most sought-after office districts. Combined with strong demand from the city’s vibrant and expanding technology sector, tight supply will drive rental growth, and create opportunities for new development, particularly in central areas.

Manila

With a population close to 13 million people, Manila lies at the epicentre of the unprecedented growth occurring in the Philippines’ real estate market. Opportunities to invest in property development are amplified by the country’s attractive investment grade rating, high GDP growth rate and strong macro-economic fundamentals.

Increased cross-border investment is expected in the forthcoming years, especially as commitments amounting to US$24 billion in real estate and infrastructure development from China are set to position the Philippines as a regional hub.
Bengaluru

The IT sector in Bengaluru has transformed the city’s character, turning the pensioner’s paradise into a bustling cosmopolitan hub. This has stirred up its real estate market, which has become a major global office destination.

The inclusion of Bengaluru in the Smart City list – an ambitious Indian government project to enhance liveability in urban centres, will lead to improved infrastructure; providing smart solutions to bridge service delivery gaps and enable technology use. This will further attract real estate investors to the city.

African Eye Report/independent.ng 

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