Opportunities for investment on PR’s land were discussed
On Tuesday, office-bearers of the Lahore Chamber of Commerce and Industry (LCCI) and Chief Executive Officer (CEO) Brig (Retd) Shoeb Anwar Kayani of the Railway Estate Development and Marketing Company (Pvt.) Limited (REDAMCO-Ministry of Railways) went into great detail about the investment opportunities on Pakistan Railways’ land.
The head of REDAMCO stated that the organization strives for the transparency and effective use of the nation’s precious resources during his visit to LCCI here. He noted that the company has created several revenue streams in just two years and that railway sites are being used for commercial purposes through long-, medium-, and short-term leases.
Saigol stated in his welcoming speech that Pakistan Railways is a significant national organization that owns critical and valuable land all over the nation.
According to him, REDAMCO wants to use railway property in a way that is profitable, transparent, and modern while generating new investment opportunities and supporting the country’s economy, urban growth, employment, and community welfare.
He valued REDAMCO’s open and adaptable business models, which boost investor confidence and expedite project completion. These formats include joint ventures, revenue sharing, public-private partnerships, and real estate investment trusts.
He went on to say that REDAMCO’s presence is a step in the right direction toward LCCI’s consistent support of public-private partnership to advance national development.
According to Shoeb Anwar Kayani, development projects on Pakistan Railways’ property will include IT parks, commercial centers, hotels, high-rise structures, hospitals, and educational facilities. For the sake of public transparency, all information pertaining to these projects is accessible on the business’ website.
Approximately 168,000 acres of property, including 500 acres of high-value commercial land, of which 74 acres have already been put to commercial use, belong to Pakistan Railways, he said.
Large high-rise buildings, hotels, and shopping malls will be the subjects of long-term leases; restaurant chains, gas stations, showrooms, and marketplaces will be the subjects of medium-term leases; and smaller commercial enterprises will be the subjects of short-term leases.
Kayani underlined that Pakistan Railways’ priceless assets are crucial for transportation as well as for creating new business and income prospects.
According to PEPRA regulations, he said, all REDAMCO projects are planned with board authorization, open tenders, and feasibility studies. Since public-private partnerships are only successful when all parties collaborate, he urged the business community to offer their thoughts and recommendations with REDAMCO.
According to the LCCI President, REDAMCO and the business community have close ties, and there will be a lot more prospects for investment in the future.