Pakistan, Saudi partners sign MoU for 140-acre Karachi Port waterfront district

Pakistan has signed a memorandum of understanding (MoU) with Saudi and local partners to explore the development of a maritime business district on 140 acres of Karachi Port Trust waterfront land on MT Khan Road.

The proposed project is intended to develop the site into a commercial and maritime hub with infrastructure designed to attract investment, create employment and support urban development.

Federal Minister for Maritime Affairs Muhammad Junaid Anwar Chaudhry said the agreement was signed between Karachi Port Trust, Saudi Business Council–NAJD Gateway Holding Company, Arif Habib Dolmen REIT Management Limited and the Pakistan Corporate Consortium.

He said the collaboration was aimed at utilising Karachi Port Trust’s waterfront assets and expanding Pakistan’s role in regional maritime commerce and investment.

The project will proceed only after the completion of all legal and regulatory requirements under Pakistani law.

Members of the Saudi delegation also expressed interest in wider cooperation in Pakistan’s maritime sector, including possible participation in port infrastructure and related projects.

Muhammad Junaid Anwar Chaudhry said the engagement formed part of broader efforts by Pakistan and Saudi Arabia to deepen economic cooperation in ports, logistics, infrastructure and trade facilitation.

He said the development, subject to regulatory approvals, could become one of the region’s largest waterfront commercial projects.