In a first, the Jammu and Kashmir administration has signed a memorandum of understanding (MoU) with the government of Dubai for multi-faceted real estate development projects.
Zooming In
Per the pact, industrial parks, IT towers, multipurpose towers, logistics, medical colleges, super specialty hospitals and more assets will be developed in the union territory, jointly with the Dubai govt.
The essence of this agreement is to help Jammu and Kashmir scale new heights in industrialisation, sustainable growth and much needed employment generation.
The Backstory
During the announcement of this MoU, Union Minister Piyush Goyal recalled that during his recent visit to Dubai, king Sultan Ahmed had expressed his interest to visit India, especially the Jammu and Kashmir region to invest in the real estate business.
Goyal went ahead and made the invitation to the king and that resulted in this landmark MoU being inked.
Looking Ahead
Goyal said to the press, "people from Dubai will now throng J&K and the UT will go a long way in Tourism and Real Estate business".
Jammu and Kashmir LG,
Manoj Sinha tweeted, "We are committed to develop a new industrial culture in Jammu Kashmir. This MoU is about Jammu Kashmir's prospect and I am confident it will set the pace in the business sector of the future that are key to the prosperity of the people."
