The third edition of the Global Business Districts Attractiveness Study, jointly developed by EY, the Urban Land Institute (ULI), and the GBD Innovation Club, reveals how the world’s most dynamic urban centers are reshaping their models for the future.

Conducted with more than 250 international stakeholders and based on 2,400 performance indicators, the study shows a clear signal of confidence: 63% of respondents find business districts more attractive in 2025 than in 2020.

Despite lasting economic uncertainty, geopolitical tensions, and new workplace realities, global business districts continue to play a decisive role in the urban economy, all concentrating talent, investment, and innovation. Together, the top-performing districts host 84 Fortune Global 500 headquarters, generate over US$4.5 trillion in GDP, and provide employment for more than seven million people.

Key Findings

The study identifies four global trends shaping the next generation of business districts:

Talent first: attracting and retaining talent has become the leading success factor, with 76% of executives ranking it as their top priority. Districts must now deliver a complete urban experience, mixing workspace, housing, culture, leisure, and quality of life, to remain relevant.

The soft & hard power of real estate: the concept of “fair value” has gained prominence, cited by 40% of the market top minds (up 14 points since 2020). Modern, flexible, energy-efficient, and mixed-use buildings outperform traditional monofunctional towers, signaling a shift toward value over volume.

Technology as a dual driver: technology is becoming both an operational driving force and a strategic differentiator. 42% of respondents call for closer cooperation between universities, research centers, and companies to transform districts into true innovation ecosystems.

Sustainability as complexity: environmental transformation is now integral to urban competitiveness. The top priorities identified include low-carbon mobility (54%), energy renovation of buildings (49%), and green space expansion (46%). Yet under 10% of executives believe today’s actions are enough to manage climate risks.

The analysis of 30 business districts highlights an evolving geography of global competitiveness: New York (Midtown Manhattan and the Financial District), Tokyo (Marunouchi District), Paris (La Défense), and London (the City) remain among the top five, while Asian districts such as Beijing CBD, Singapore CBD, and Gangnam District Seoul continue to rise. New players from the Middle East and South Asia, including Dubai (DIFC), Riyadh (KAFD), Bangalore, and Mumbai, are emerging as influential centers of growth.

Across all regions, the study underscores a visible transition: business districts are moving from managing assets to ecosystems, where collaboration, innovation, and sustainability define long-term attractiveness.

About the Global Business Districts Attractiveness Study

Produced by EY, ULI, and GBD Innovation Club, the study provides decision-makers, investors, and city leaders with a comparative framework to assess how business districts are adapting to the economic, social, and environmental challenges of the next decade.

It also reaffirms the role of these urban cores as strategic laboratories for the cities of tomorrow, where collaboration between the public and private sectors drives resilience and renewal.