Pakistan Railways is set to commercialise a significant portion of its 168,000-acre land portfolio, including 500 acres of high-value urban property, through a major push for public-private partnerships aimed at stimulating national economic growth.
According to information today, the initiative is being spearheaded by the Railway Estate Development and Marketing Company (REDAMCO), whose Chief Executive Officer, Brigadier (retd) Shoeb Anwar Kayani, detailed the plans during a meeting at the Lahore Chamber of Commerce and Industry (LCCI). He explained that REDAMCO was established to utilise the country”s valuable assets transparently and has already generated multiple revenue streams in two years.
LCCI President Faheem ur Rehman Saigol, in his welcome address, commended the initiative, highlighting that Pakistan Railways possesses strategically important land across the nation. He noted that REDAMCO”s objective to develop these properties in a modern and profitable manner would create new investment opportunities and contribute to the national economy, urban development, and employment.
Mr Saigol particularly praised the transparent and flexible investment models being offered, such as revenue sharing, joint ventures, and real estate investment trusts (REITs), which he stated would increase investor confidence and accelerate project completion. He affirmed the LCCI’s support for cooperation between public and private sectors for national development.
Brigadier Kayani elaborated that future development projects on railway lands will include shopping malls, hotels, high-rise buildings, IT parks, hospitals, and educational institutions. He assured that all project information, including tenders and approvals, is publicly available on the REDAMCO website to ensure transparency.
Of the approximately 500 acres of prime commercial land owned by Pakistan Railways, 74 acres have already been utilised commercially. Future developments will be structured through various lease terms: long-term leases for large-scale complexes and commercial centres, medium-term for ventures like food chains and petrol pumps, and short-term for smaller commercial projects.
Stressing the importance of procedural integrity, Brigadier Kayani confirmed that all REDAMCO projects are planned in accordance with PEPRA rules, involving comprehensive feasibility studies, open tenders, and formal board approvals. He invited the business community to share ideas, noting that collaborative effort is essential for the success of public-private partnerships.
Concluding the session, LCCI President Faheem ur Rehman Saigol reiterated the strong connection between the business community and REDAMCO, anticipating that investment opportunities will increase significantly. He pledged full support for initiatives that promote industrial growth and fortify the national economy.