Dubai’s Emaar Group will partner with Indian Kashmir to invest in the construction of a $60 million retail and office complex as the government works to pacify a region where Muslim separatists have long fought the state.
In Srinagar, the capital of the Himalayan region with a majority of Muslims, the $60.50 million investment—roughly 5 billion rupees—will go towards a mall and a multipurpose commercial tower, the company stated during an investment conference.
Following the federal government’s declaration that Jammu and Kashmir had gotten a record amount of investment—15 billion rupees ($181 million)—in the first 10 months of the 2022–23 (April–March) fiscal year, the region’s government recently announced that it had received the first foreign investment.
