World Class Mall by Emaar in Srinagar
Srinagar's iconic skyline is all set to be transformed forever with the establishment of a world-class Mall by Emaar, which will be the first significant FDI investment in Jammu and Kashmir as per the agreement signed between the governments of Dubai and Jammu & Kashmir to facilitate investments into marquee projects. According to the MOU, Emaar will develop a shopping mall in Srinagar of 500,000 sq. ft. in size. "UAE and India are comprehensive strategic partners and this project by EMAAR will be a landmark of Jammu and Kashmir. I would like to congratulate EMAAR and all the partners in this project , and am sure we will see many such projects coming up in the near future. UAE and India economic partnership is at an inflection point and we will invite other UAE investors to look at this opportunity too,” said H.E. Dr Ahmed Abdul Rahman Albanna, UAE Ambassador to India. Emaar, the UAE's globally famous and recognized integrated real estate Development Company and a leading real estate company will be developing Emaar Mall of Srinagar. "We wish to bring a world class Mall experience to residents of Jammu and Kashmir and the tourist inflows which are likely to increase exponentially. EMAAR is also considering other investments into real estate, hospitality and mixed use commercial and residential projects in Jammu and in Srinagar,”said Mohamed Alabbar, Founder of Emaar. “Government of Dubai and Government of Jammu and Kashmir are committed to faster tracking investments, and this project is deeply aligned with the vision to furthering trade and investment relationship between the two countries. Union Territory of Jammu and Kashmir has created a very attractive investment landscape, and this FDI project is a reflection of the close brotherly relations between UAE and India. We are looking forward to several projects being announced in the near future and significant employment opportunities being created in the process,” said Dr. Aman Puri, Consul General of India in Dubai. The UAE is a strategic partner to India, and the two countries have a strong bilateral relationship based on common geopolitical and economic interests. In line with this, the government of Dubai, one of the leading global financial hubs, had recently inked an agreement with India to ramp up infrastructure investment in Jammu and Kashmir. The deal will see Dubai deliver more than a billion dollars’ worth of projects in Kashmir including industrial parks, a medical college, a specialty hospital, logistic centers, IT towers and multi-purpose towers.
Tags : News/Views Investment FDI UAE industrial parks Government of Dubai Mall Srinagar Emaar Jammu and Kashmir Union Territory