SRINAGAR, Mar 19: Emaar Group of the United Arab Emirates (UAE) made its formal entry into Jammu and Kashmir with the foundation-laying ceremony of a mega-mall project in SrinagThe project includes the building of a mega-mall- Mall of Srinagar-, and a multipurpose tower. Emaar will pump in a total investment of Rs 500 crore.The construction of the mega-mall will cost Rs 250 crore, Sinha told reporters. He said the project envisages the creation of over 10,000 jobs in the Valley.“The Mall of Srinagar and allied projects with the Government of Dubai will fuel the economic growth of J&K and bring us closer to achieving the shared vision of strengthening bilateral trade and investment ties between India and UAE.“This is a new dawn of limitless possibilities. We are taking forward PM’s vision for development of J&K. Mall of Srinagar will have transformative impact on UT & boost infrastructure, employment generation and ease of living,” he said.“This is to be one of the largest malls in the region, the mall will have over 500 shops,” he said.The LG said the credit for the strong ties between UAE and India goes to the strenuous efforts of the Prime Minister.Sinha highlighted the progressive reforms introduced under the guidance of the PM to create a favourable environment for Industries and Business to flourish in J&K.“Unprecedented Industrial investment & economic growth of J&K is laying the foundation for a stronger and more prosperous future for the people of Union Territory.“Within 22 months of implementation of New Industrial Policy, we have received investment proposals from more than 5,000 domestic and foreign companies. Every day, eight companies have expressed their willingness to invest in J&K,” he said..
