Emaar, one of the top real estate companies in Dubai, has chosen to invest $60 million in Indian-occupied Kashmir to build a commercial complex.
The multipurpose commercial skyscraper and a shopping mall will be built in Srinagar, according to Emaar. This will be the first foreign investment in the area. Jammu & Kashmir (J&K), which is controlled by India, reportedly received investments totaling $181 million in the first 10 months of the fiscal year 2022–2023.
Amit Jain, CEO of Emaar, claimed that the $60 million investment will have a knock-on impact and should encourage others to do the same. It would be called Mall of Srinagar, have 500 stores, and generate 7,000–8,000 employment.
Huge Layoffs at Shopping Mall Group Majid Al Futtaim (MAF) group, a Dubai-based shopping mall developer, let go about 105 of its 46,000 employees in order to increase profitability under Ahmed Galal Ismail, the new CEO.
The Mall of the Emirates in Dubai and an indoor ski resort are two of the more than $16 billion in assets owned by MAF. MAF said that it constantly evaluates its procedures in order to improve efficiency and adjust to shifting market conditions.
These initiatives help the company increase revenue for its shareholders while also increasing the likelihood of profitable and long-term growth. When former CEO Alain Bejjani was abruptly replaced by Ahmed Galal Ismail, the direction of MAF shifted.