Sinha dubbed the India-UAE Summit a “unique” chance for candid talks on investment opportunities in J&K, and called Sunday (19 March) a historic day while addressing foreign investors. The government invited CEOs from real estate, hospitality, development, food processing and agriculture sectors to address their concerns in J&K by providing them with a “first-hand” experience. The chief executive officer (CEO) of Emaar Properties mentioned that “Mall of Srinagar” would have 500 stores, with several operated by United Arab Emirates (UAE) firms.Įmaar, along with 35 other CEOs from the Gulf Cooperation Council, including Saudi Arabia, visited Kashmir last year to examine investment prospects. The region is advancing towards industrial progress. The investment amounts to Rs 500 crore and fulfills the long-standing dream of people in J&K, particularly in Srinagar and its surroundings. The projects by Emaar in Srinagar and Jammu will provide more employment opportunities. The groundbreaking ceremony is scheduled for next month.
Sinha revealed that an IT tower would also be set up in Jammu.Īccording to Sinha, a new Rs 150 crore IT tower will be established in Jammu, with land already allocated. The Lieutenant Governor of Jammu and Kashmir, Manoj Sinha conducted a prayer ceremony for the “Mall of Srinagar” and an IT tower at Sempora, located in the outskirts of Srinagar. Emaar Group, developer of Burj Khalifa, announced a shopping mall and IT tower in Srinagar, marking their entry into Jammu and Kashmir, after Gulf CEOs explored investment opportunities in the Valley nearly a year ago.ĭuring an India-UAE investors’ meet in Srinagar, the announcement was made, matching a similar event from March 2020.Įmaar’s projects are the first foreign direct investment (FDI) in the Union Territory, according to the Jammu and Kashmir (J&K) government.
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