The 21-year-old has impressed during two seasons on loan at Borussia Dortmund, with Chelsea and Arsenal among the clubs linked with a move for him.
Now City have emerged as potential suitors, with Pep Guardiola reportedly keen on bringing the natural full-back to the Etihad this summer.
It is claimed that the Premier League champions have spoken to Real Madrid about Hakimi and are willing to pay his £54million price-tag.
However, City will face competition from Dortmund who are keen to extend the defender's loan for a third season.
Hakimi has shone during his two years in Germany, making 71 appearances and scoring 12 goals while assisting 17.
Pep Guardiola is said to be a big admirer of his talents and sees him as a perfect reinforcement for his squad next season.
#CITYZENS
Saif
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