According to a report by the City Momentum Index (CMI) complied by a professional services and investment management company (Jones Lang LaSalle), Nairobi has been ranked position 11 among the top 20 cities.
London, Silicon Valley and Dublin were the first three cities with Melbourne, Seoul and Auckland being the last three in the top 20
Out of the three kind of cities of the future highlighted in the report-established, emerging and new world cities- Nairobi was classified among the emerging new world cities.
These are cities on the fast track to maturity often driven by innovation as they are homes to some of the world’s fastest-growing tech companies: “Nairobi, for example, is pushing to become Africa’s technology center with development projects like Konza Technology City, an innovation district that will include space for educational institutions and technology firms.”
The report noted that many of the top 20 cities are home to vibrant mixed-use districts which create and maximise opportunities to conceive and commercialise new ideas. This reinforces the idea that city momentum involves much more than Gross Domestic Product (GDP) growth.
“It also requires building an innovation-oriented economy through technology. It means creating cutting-edge new businesses. And it involves attracting talent and nurturing a diverse and inclusive workforce,” read the report in part.
As the report pointed out that the growing population did call for new infrastructure, real estate was noted as the driving momentum which Nairobi has already embraced.
“As a result, the role of commercial real estate is changing from housing businesses to envisioning and developing built environments that attract companies and talented people,” added the report.
Noting the new development, Nairobi Governor Dr Evans Kidero said: “The ‘Green City in the Sun’ has proved a magnet for international companies and organizations. From global banks to the United Nations, our city is chosen by the world for a reason – the culture, lifestyle and location is unmatched anywhere in East Africa.”