While facing financial challenges as an organization, Pakistan Railways (PR) remains one of the largest land stock owners, in the country. Much of this land is strategically located in the prime areas of urban centres, which have grown around the major north-south rail link of the country and its train stations. It was realized that developing selected parcels from PR’s property portfolio through transparent Public Private Partnership (PPP) based structures could become a vital source of both fixed and perpetual income streams for PR. Such income could be utilized to assist PR in both their much-needed capital expenditure for infrastructure upgradation as well as requisite subsidies for the O&M function.
The Advisory consortium, which was led by Promag and included financial consultants KPMG Taseer Hadi & Co. and legal consultants Mandviwalla & Zafar, was assigned to assist PR in their Real Estate Development Program for the utilization of its property stock, initially in the Karachi Railway Operations Division. The assignment included assistance in Formulation of Strategy & Policy Frameworks, Land-use Allocation, Master Planning, Feasibility Studies, and Transaction Structuring leading to developers’ selection for the Program.
*Services undertaken in collaboration with affiliate Group Company LOCii INC.