Islamabad, 11 Oct 2023:Railway Estate Development and Marketing Company (REDMACO) convened its 32nd Board of Director’s meeting, wherein progressive discussions revolving around real estate proposals for upcoming projects in Karachi took place under the chairmanship of Syed Mazhar Ali Shah, Secretary /Chairman Railways, at Ministry of Railways, Islamabad. The focused strategy involved applying new land management rules for effective administration of land and leveraging the generated revenue towards maintaining and enhancing Pakistan Railways infrastructure and service delivery. The Board tasked REDAMCO’s Chief Executive Officer, Mr. Arshad Salam Khattak, with the expeditious implementation of the real estate projects, with a clear directive to achieve the set objectives within a specified timeframe.

The press release provided by PID elaborates on the crucial discussions and decisions that transpired during the meeting, all aimed at addressing the management of upcoming real estate projects in Karachi. Emphasis was placed on the astute utilization of new land management rules, which have been devised to ensure the optimal and efficient management of the land involved in these projects. The underlying goal, as derived from the revenue that will be generated from these real estate undertakings, is to fortify the sustainability of the Pakistan Railways infrastructure and to facilitate the delivery of its services.

Mr. Arshad Salam Khattak, entrusted by the Board to helm the execution of the real estate projects, has been urged to adhere to a fast-track basis, underlining the imperative nature of achieving the targets within the defined time boundaries. The mandate is clear – the effective and timely implementation of the real estate projects is paramount, ensuring the positive impact of the revenue generated reverberates through the operations and service delivery of Pakistan Railways.

The meeting did not only solidify the approach to be taken with respect to the discussed real estate proposals but also underscored the broader vision towards ensuring that the management of these projects translates into tangible benefits for Pakistan Railways. With the roadmap laid out and directives provided to the CEO of REDMACO, the wheels have been set in motion to foster the effective actualization of these projects, which are anticipated to significantly buttress the infrastructure and service delivery of Pakistan Railways.