REDAMCO CEO Outlines Comprehensive Strategy for Railway Land Commercialization in Lahore
Brigadier (retd) Shoeb Anwar Kayani, the chief executive officer of the Railways Estate Development and Marketing Company (REDAMCO), has provided detailed insights into the company's mission to leverage Pakistan Railways' extensive land assets in a transparent and efficient manner. Speaking at the Lahore Chamber of Commerce and Industry (LCCI) on Tuesday, Kayani emphasized that REDAMCO was established to generate multiple revenue streams within just two years of its operations, focusing on maximizing the potential of these national resources.
Transparent Utilization of Railway Land Through Structured Leases
According to an official statement released during the event, Kayani explained that railway land is being commercially utilized through a well-defined framework of long-, medium-, and short-term leases. These leases are implemented under strict regulatory procedures to ensure accountability and efficiency. He highlighted that Pakistan Railways owns approximately 168,000 acres of land across the nation, including nearly 500 acres of high-value commercial land. Of this, 74 acres have already been successfully developed for commercial purposes, showcasing the initial progress made by REDAMCO.
Detailed Breakdown of Lease Categories and Planned Developments
Kayani elaborated on the specific types of projects associated with each lease category. Long-term leases will encompass large-scale developments such as high-rise complexes, hotels, and commercial centers, aimed at creating significant economic hubs. Medium-term leases will focus on establishing food chains, petrol pumps, showrooms, and markets, which cater to everyday commercial needs. Short-term leases, on the other hand, will involve smaller commercial projects that can be quickly implemented to generate immediate revenue.
Planned developments under this strategy include a diverse range of infrastructure projects, such as shopping malls, hotels, IT parks, hospitals, and educational institutions. Kayani assured that all project details are publicly available, promoting transparency and encouraging public and private sector engagement. He further stated that every project is meticulously planned in accordance with the Public Procurement Regulatory Authority (PPRA) rules, supported by thorough feasibility studies, open tenders, and board approvals to ensure compliance and success.
LCCI President Endorses REDAMCO's Framework for Economic Growth
LCCI President Faheemur Rehman Saigol expressed strong support for REDAMCO's initiatives, noting that Pakistan Railways is a key national institution with strategically located land assets. Saigol emphasized that REDAMCO's leasing framework has the potential to unlock substantial investment opportunities, thereby supporting urban development and employment generation across the country. He reiterated the chamber's commitment to fostering public-private cooperation and encouraged active engagement from all stakeholders to strengthen economic activity and drive sustainable growth.
This collaborative approach aims to transform underutilized railway land into vibrant commercial spaces, contributing to Pakistan's economic landscape while adhering to principles of transparency and regulatory compliance.
