Dubai has been returning to the City Momentum Index since 2017 as one of the world’s most dynamic cities.
According to the seventh edition of the City Momentum Index from JLL, the global real estate service company, Dubai is the only UAE emirate in the Top 20 index – and the leading GCC city before Riyadh in Saudi Arabia.
The city is in 14th place while the emirate continues to build up the critical mass needed to become the main business hub in the Middle East, the report said.
Its appeal is supported by a strong demography, with more than half of the population aged 20-40 (the second highest share worldwide). Although construction in commercial and residential real estate has led to an imbalance between supply and demand, the UAE government has responded with initiatives to boost demand. One was the relaxation of visa regulations and initiatives to improve transparency.
The momentum is expected to be further fuelled in the run-up to Expo 2020, the report concluded.
Dubai takes the lead in sustainability initiatives from the top 20 cities – it has one of the most ambitious sustainability goals. Under the UAE Sustainability Initiative, the city is aiming for a reduction of 30 percent energy and water use by 2030 and 75 percent clean energy by 2050. The ‘Green Dubai’ initiative of the Dubai Electricity and Water Authority also promotes more sustainable energy use.
The report also mentions Dubai as a world leader in the development of smart city technologies. The ‘Smart Dubai 2021’ strategy describes its digital transformation goals in areas such as Smart Mobility, Smart Living and Smart Governance.