UAE Investment in Kashmir: The entry of this Muslim country in Kashmir, the world was blown away
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UAE’s MR Group is making a huge investment of 500 crores to work in Kashmir. Under this, a huge mall is being built for 250 crores.
The news coming from Kashmir is enough to surprise the world. After reading this news, the chest of the whole country will swell with pride. For the first time, a powerful Muslim country UAE has opened the treasury for Kashmir. But this news can increase the trouble for the people of Pakistan. Let us tell you that MR Group of UAE is making a huge investment of 500 crores to work in Kashmir. Under this, a huge mall is being built for 250 crores.
First major FDI
The mega-mall is the first significant Foreign Direct Investment (FDI) investment in Jammu and Kashmir, according to an official statement. Emaar Group plans to invest ₹250 crore to set up the mega-mall, one of the largest malls in the region with over 500 shops. A joint venture between Emaar and Delhi-based real estate firm Magna Waves Buildtech, the mall is likely to be operational by 2026. Emaar Group will also invest in setting up IT towers in Jammu and Srinagar. The investment will reach ₹500 crore.
incentive investment
Within 22 months of the implementation of the new industrial policy, J&K has received investment proposals from over 5,000 domestic and foreign companies. The LG said that on an average every day eight companies have expressed their willingness to invest in Jammu and Kashmir. “Every day a new industry is getting operational in the UT. Last month, 45 industries started their operations. Emaar CEO Amit Jain said that the mall is a milestone project in Srinagar. “We are excited about its potential. As Emaar Group, we bring strong relationships with leading UAE retail brands, most of whom will be making their presence felt in India through this initiative.
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