Century Financial of the United Arab Emirates has signed a memorandum of understanding to invest $ 100 million in Jammu and Kashmir.
The investment covers three hotels and one commercial housing complex within federal territory.
MoU was signed at an event attended by several UAE-based business owners, investors and entrepreneurs. , Consul General of India in Dubai.
Krishen, Chairman and CEO of Century Financial, is originally from the Doda district of Jammu.
“I have always believed that Jammu and Kashmir has huge investment potential and that there can never be a better time than it is now. It is always my dream to make a huge contribution to my hometown. Yes, and today, when I see this dream come true, it’s very satisfying, “Kashen said.
Several other UAE companies have promised to make significant investments in the region. Dubai’s Emar Group has signed an agreement with the Jammu and Kashmir provincial government to develop a 500,000-square-foot shopping mall in Srinagar.
The United Arab Emirates-based Lulu Group has also promised to invest Dhs 100m to establish a food processing and logistic hub in Jammu and Kashmir.
DP World, a port operator headquartered in Dubai, will also build a dry port in Jammu and Kashmir. DP World will reportedly visit the 250-acre site designated for inland port facilities shortly. This is the first union territory dryport in Jammu, and it is reported that another location near Srinagar is being considered to boost Kashmir’s 2,500 rupees fresh fruit industry.
“Jammu and Kashmir is one of the safest places to do business, offering the most attractive incentive schemes for investing in Union Territory compared to other states in India.” Takur, J & K’s chief industrial and commercial secretary, said.
https://gulfbusiness.com/uaes-century-financial-to-invest-100m-in-jammu-and-kashmir/ United Arab Emirates Century Financial Invests $ 100 Million in Jammu and Kashmir