Emaar Properties an Emirati multinational real estate development company located in the United Arab Emirates is a public joint-stock company with a valuation of US$15.5 billion as of June 2021. The group is planning to develop a 500,000 sqft shopping mall in Srinagar as per the agreement signed in betwixt the governments of Dubai and Jammu & Kashmir to facilitate investments into marquee projects. This landmark project is going to be the first significant foreign direct investment in J&K, India. The project is said to further strengthen the bilateral relationship based on common geopolitical and economic interests between the two comprehensive strategic partners.
“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.
