Pakistan Signs MoU With Saudi Partners For Major Karachi Waterfront Development
Pakistan has signed a memorandum of understanding (MoU) with Saudi and local partners to explore the development of a large-scale maritime business district on prime Karachi Port Trust (KPT) waterfront land, in a move aimed at boosting investment, employment, and economic activity.
The agreement was signed in Islamabad between Karachi Port Trust (KPT), Saudi Business Council–NAJD Gateway Holding Company, Arif Habib Dolmen REIT Management Limited (AHDRML), and the Pakistan Corporate Consortium.
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According to Federal Minister for Maritime Affairs Muhammad Junaid Anwar Chaudhry, the proposed project will be developed on a 140-acre site owned by KPT on MT Khan Road in Karachi. The plan is to transform the area into a modern commercial and maritime hub that could become one of the largest waterfront developments in the region.
The project is expected to feature modern commercial infrastructure designed to attract local and foreign investment, create new employment opportunities, and contribute to Karachi’s urban development.
Speaking on the occasion, Minister Chaudhry described the initiative as a strategic opportunity to unlock the potential of KPT’s waterfront assets and strengthen Pakistan’s position as a regional center for maritime trade and investment.
He emphasized that all legal and regulatory requirements under Pakistani law would be fulfilled before the project moves forward.
During the visit, members of the Saudi delegation also expressed interest in expanding cooperation in Pakistan’s maritime sector, including possible participation in port infrastructure and related development projects.
The minister said the initiative reflects broader efforts by Pakistan and Saudi Arabia to deepen economic cooperation and explore new opportunities in ports, logistics, infrastructure, and trade facilitation.
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