Thu, 14 Apr 2011

From: The Jakarta Post

A recent global survey shows that the world's well-off communities have ranked Jakarta as 28th among the world's top-40 major cities in 2020.

The same survey, conducted by London-based property consultant Knight Frank, in cooperation with Citi Private Bank, places Jakarta at the 39th position in the 2011 ranking, a drop from 38th the year before.

The survey asked the opinions of 5,000 respondents from 36 countries, all of whom have wealth above US$100 million each.

“The main consideration [of why Jakarta is ranked 28th] is the economic and political stability. Jakarta has strong economic fundamentals,” Knight Frank Indonesia senior associate director Fakky Ismail Hidayat said at a discussion in Jakarta on Wednesday.

The local branch's senior research manager, Hasan Pramudji, meanwhile, said that the projected position increase was in line with projected developments of major cities in the Asia Pacific region.

“Ten years from now, Jakarta will be above Monaco and Istanbul,” he said as quoted by

The same survey puts New York and London as the world's top two cities, respectively, in both the 2011 and 2020 rankings.

The rankings are aimed at assessing key markets across the world in terms of their provision of investment opportunities and their influence on global business leaders and the political elite, according to the Knight Frank website.