The foundation stone of the Mall of Srinagar, set to be the largest mall in the region, was laid by Lieutenant Governor Manoj Sinha on Sunday.
The first international mall in Jammu and Kashmir will be operational by 2026 and will create nearly 13,500 jobs. Moreover, the mall will have over 500 shops.
The construction of the mall began with the laying of the foundation stone by Manoj Sinha on Sunday at Sempora, Pampore.
The project will also offer a world-class experience to the residents of Jammu and Kashmir and will become a major attraction for thousands of tourists visiting Srinagar from across India, a statement said.
“The Mall of Srinagar and allied projects with the government of Dubai will fuel the economic growth of Jammu and Kashmir and bring us closer to achieving our shared vision of strengthening bilateral trade and investment ties between UAE and India,” Manoj Sinha said.
“By creating jobs and attracting new businesses to our union territory, we are laying the foundation for a stronger and more prosperous future for the people of Jammu and Kashmir," he added.
The project’s world class development will include a mall, 6 cinema multiplex, five-star hotel, multi-use commercial and residential complex, it added.
In January 2022, the J&K government entered into a bilateral agreement with various stakeholders and Government of UAE to deliver over a billion dollars worth of projects in the valley.
These projects include the development of industrial parks, a medical college, a speciality hospital, logistics centres, IT towers, and multipurpose towers, in addition to the Mall of Srinagar by Emaar.
TATA Sons, TATA Consulting, Lulu International, Apparel Group, Titan Company, EaseMyTrip, Reliance Retail and PVR Group have signed MOUs with Emaar for Mall of Srinagar to create 13,500 jobs in the valley, the statement said.
The mega-mall is the first significant FDI investment in the State of Jammu and Kashmir to facilitate investments in marquee projects as per the MOU signed between the governments of the UAE and India, it further added.
(With Inputs from Shailendra Wangu)
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