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Wuhan emerges as model for dynamic, high-energy cities

Jeremy Kelly presents new white paper on building an innovation-oriented economy to Wuhan Mayor

​​​​Wuhan, Decem​​ber 2, 2015 – Wuhan maintains its position among the world's most dynamic urban economies, and typifies high-energy cites that are riding the wave of strong economic and real estate momentum. As international consultant to the Wuhan municipal government, Jeremy Kelly, Director of JLL Global Research, presented a white paper during the Ninth international advisor conference session that was held on November 19, discussing latest insights from research on the world's most dynamic cities to the leaders of the city of Wuhan. The paper recommends Wuhan to  build an innovation-rich city to achieve sustainable development.

Mr. Kelly presented his findings about "How the real estate industry can help build an innovation-oriented city" during Wuhan's International Advisor conference. The corresponding white paper, "Wuhan – An Emerging World City​", builds on the insights from JLL's exclusively launched City Momentum Index (CMI), which tracks the speed of change of the economies and real estate markets of 120 major cities across the globe, and JLL's China60 research paper, a study that assesses the economic and real estate landscape beyond China's Alpha cities, Beijing and Shanghai.

Wuhan, which has consolidated its position as the powerhouse of Central China, continues to rank among the top ten most dynamic cities globally for the second year in the CMI, and it has emerged as one of an elite group of nine Tier 1.5 among the China60. The white paper assess that Wuhan benefits from strong growth which is underpinned by strengthening corporate activity, an expanding volume of middle-class households, more business-friendly environments, access to well-educated skills and the immediate availability of affordable, high quality office accommodation.

"Raw demographic and economic energy continues to propel Wuhan forward," said Jeremy Kelly, during his presentation. "However, to maintain its momentum and 'future proof' long-term success, Wuhan must adapt to the speed of innovation, and create cutting-edge new businesses. While already an education cluster of truly global scale and an evolving technology hub, Wuhan needs to continue to build the foundations of the new economy in terms of innovation, infrastructure and connectivity."

JLL has been closely following Wuhan's development in the area of innovation. Jie Li, Managing Director of Wuhan, said: "JLL has been closely following Wuhan's development in the area of innovation. With the support of the International Consulting Advisors, Wuhan has laid out an exciting new development path with 'Wuhan characteristics', to strengthen its position as an innovative and influential economic center in China. Wuhan is also closing the gap to some of the world's most innovative cities."

China is eager to drive innovation via different approaches, and the real estate industry plays an important role in enabling the success of innovation-oriented cities. Beyond contributing positively to a city's personality and global brand, real estate provides the infrastructure and environment for productive activity that facilitates creativity, innovation and entrepreneurship. At the same time, it fosters a sense of community and well-being for its citizens in a sustainable urban model.

Former Wuhan Mayor, Mr. Liangzhi Tang, appointed Jeremy Kelly as a Wuhan Municipal Government International Consulting Advisor in June 2014. In his role, he has committed bringing JLL's build on research to providing regular insights and suggestions on the city's internationalization process.​

>> Click here for "Wuhan – An Emerging World City"​ White Paper.pdf