San Diego ranks 25th among the world’s top cities for commercial real estate investment, according to a report at the upcoming World Economic Forum in Davos, Switzerland.

The Jones Lang LaSalle brokerage tied the rankings to the amount of investment from the beginning of 2010 through the third quarter of last year. The 30 cities as a group attracted 50 percent of all commercial real estate investment in those two years, the company said.

The firm said San Diego attracted $5 billion over the past two years and tied with five other cities in Europe, South America and Australia. San Diego’s ranking should not be surprising, given more than $1 billion spent in 2011 on hotels alone.

The largest investment went to London at $47 billion and the smallest to Manchester, England, at $4 billion.

But the Big 30 had better not rest on their laurels, Jones Lang warns, and San Diego is in danger of falling out of the Big 30 in eight years.

"We believe that this will be the ‘decade of change,’ as investors widen their horizons across a much broader range of 300+ cities," the firm said, "not only in emerging markets but also in secondary and tertiary cities in mature economies."

Among the up-and-comers are 10 cities in China, deemed the fastest growing in the world.

Europe boasts four "mega cities" — London, Paris, Moscow and Istanbul — but other "high-value" cities hold promise and their approach – "strong fundamentals and commitment to innovation to outperform in a low-growth environment" — themes that could instruct San Diego on what it needs to do to keep competitive.

The U.S. has seven cities besides San Diego among the top 30 (rank in parentheses): New York (3), Washington (7), Los Angeles (10), San Francisco (13), Chicago (14), Boston (18) and Miami (28).

Other U.S. cities threaten to usurp San Diego’s place by 2020, the company protected. The future 30 adds Atlanta, Dallas, Houston and Philadelphia and drops San Diego.

But by that year, the Top 30 may grow to the Top 50 in sharing half of all commercial real estate investment because of the rise of Mexico City, Delhi, India, and Istanbul, Turkey.

"While investors are still choosing to invest in strong, stable and transparent cities, new destinations offer a new world of potential," said Christian Ulbrich, CEO of Jones Lang’s Middle East, Europe and Asia group.

"As the world changes so rapidly, the real estate investment map will follow suit. Corporations will continue to assess their business locations, search for more value and deepen their geographic reach. Investors will diversify their portfolios and begin to search for new cities for their investments in Asia Pacific and second or third-tier cities in the West."

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