Dubai’s Emaar Group to be first foreign investor in India’s Jammu and Kashmir
Indian Kashmir is to get its first foreign investment, with Dubai’s Emaar Group due to build a $60 million shopping and office complex, Alarabiya reports.
Dubai’s Emaar Group to be first foreign investor in India’s Jammu and Kashmir
The Economics of Geography

Dubai’s Emaar Group to be first foreign investor in India’s Jammu and Kashmir

Photo: iStock
Eurasia 23/03/2023 08:27

Indian Kashmir is to get its first foreign investment, with Dubai’s Emaar Group due to build a $60 million shopping and office complex, Alarabiya reports.

The 5 billion rupee ($60.50 million) development will include a shopping mall and multi-purpose commercial tower in Srinagar, the capital of the Muslim-majority Himalayan region, Emaar announced at an investment summit in the city, according to the news site.

Emaar Properties CEO Amit Jain told reporters that the investment would have a ripple effect. “This is the start, we should inspire people, people should aspire to follow us. This is a one million square feet mall with 500 shops and will generate around 7,000 to 8,000 jobs,” Jain said after the ground-breaking ceremony for the "Mall of Srinagar."

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