Mall of Srinagar launched
By Retail4Growth Bureau | March 21, 2023
Jammu & Kashmir’s first international mall is set to become operational by 2026 and is one of the largest malls in the region, which will have over 500 shops.
Emaar and Magna Waves Buildtech have launched the Mall of Srinagar, the first international mall in Jammu and Kashmir. 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
EMAAR Properties, a UAE-based globally-recognized integrated real estate development company, will spearhead the construction of the Mall of Srinagar. 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.
The Mall of Srinagar is expected to open its door to residents of the city by 2026.
“Being the largest-ever mall built in the state, over 1000 people are expected to be hired during the course of construction. Once operational, the mall will create 13,500 new jobs in Jammu and Kashmir,” said a spokesperson from Magna Waves Buildtech.
According to the company statement, the 1,000,000 sq. ft. project will include a mall, 6 cinema multiplex, five star hotel, multi-use commercial and residential complex.
“Mall of Srinagar is one of our milestone projects and we are excited about the potential of it. As Emaar group, we bring along strong relationships with leading retail brands of UAE, most of which will be launching their presence in India through this initiative,” said Amit Jan, CEO, Emaar.
