Railway land leasing generates new revenue streams

LAHORE:

Brigadier (retd) Shoeb Anwar Kayani, chief executive officer of Railways Estate Development and Marketing Company (REDAMCO), said the company was established to utilise Pakistan Railways' assets in a transparent and efficient manner, generating multiple revenue streams within two years of operations.

According to a statement, speaking at the Lahore Chamber of Commerce and Industry (LCCI) on Tuesday, Kayani said railway land was being commercially utilised through long-, medium- and short-term leases under defined regulatory procedures. He added that Pakistan Railways owned around 168,000 acres of land nationwide, including nearly 500 acres of high-value commercial land, of which 74 acres had already been commercially developed.

Kayani said long-term leases would include large high-rise complexes, hotels and commercial centres, while medium-term leases would cover food chains, petrol pumps, showrooms and markets. Short-term leases, he said, would involve smaller commercial projects. Planned developments include shopping malls, hotels, IT parks, hospitals and educational institutions, with project details publicly available.

He said all projects were planned in accordance with PPRA rules, supported by feasibility studies, open tenders and board approvals.

LCCI President Faheemur Rehman Saigol said Pakistan Railways was a key national institution with strategically located land assets. He said REDAMCO's leasing framework could help unlock investment opportunities while supporting urban development and employment generation.

Saigol said the chamber supported public-private cooperation and encouraged engagement to strengthen economic activity.