Summary
- Pakistan has entered into a memorandum of understanding (MoU) with Saudi and local investment partners to explore the development of a major maritime and commercial district on prime waterfront land in Karachi, marking a significant step toward expanding the country’s port-based economy.
- According to the Ministry of Maritime Affairs, the proposed project is designed to unlock the commercial potential of Karachi’s waterfront by developing advanced infrastructure that can attract both domestic and foreign investment while generating employment opportunities.
- If approved, the waterfront development is expected to become one of the largest commercial maritime ventures in the region, reshaping Karachi’s urban and economic landscape while enhancing Pakistan’s role in regional trade networks.
Pakistan has entered into a memorandum of understanding (MoU) with Saudi and local investment partners to explore the development of a major maritime and commercial district on prime waterfront land in Karachi, marking a significant step toward expanding the country’s port-based economy.
The agreement involves the Karachi Port Trust (KPT), the Saudi Business Council–NAJD Gateway Holding Company, Arif Habib Dolmen REIT Management Limited, and the Pakistan Corporate Consortium, aiming to transform a 140-acre site along MT Khan Road into a modern business and maritime hub.
According to the Ministry of Maritime Affairs, the proposed project is designed to unlock the commercial potential of Karachi’s waterfront by developing advanced infrastructure that can attract both domestic and foreign investment while generating employment opportunities.
Officials said the initiative is part of broader efforts to strengthen economic cooperation between Pakistan and Saudi Arabia, particularly in the areas of ports, logistics, infrastructure, and trade facilitation. The Saudi delegation reportedly expressed strong interest in expanding collaboration within Pakistan’s maritime sector, including potential participation in port development projects.
Maritime Affairs Minister Muhammad Junaid Anwar Chaudhry described the agreement as a transformative opportunity that could position Karachi as a regional center for maritime trade and investment. He emphasized that all regulatory and legal procedures under Pakistani law would be followed before the project moves forward.
If approved, the waterfront development is expected to become one of the largest commercial maritime ventures in the region, reshaping Karachi’s urban and economic landscape while enhancing Pakistan’s role in regional trade networks.
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