Pakistan, Saudi Arabia, and local partners have signed a memorandum of understanding (MoU) to explore the development of a maritime business district at Karachi Port Trust (KPT) waterfront land. The Ministry of Maritime Affairs announced this agreement on Saturday.
Maritime Affairs Minister Junaid Anwar Chaudhry said the deal was signed between Karachi Port Trust, Saudi Business Council Najd Gateway Holding Company, Arif Habib Dolmen REIT Management Limited (AHDRML), and the Pakistan Corporate Consortium. He said the agreement aims to turn the area into a major commercial and maritime hub.
The project is planned on 140 acres of land at Karachi Port Trust along MT Khan Road. Officials said the site will be developed into a modern business zone. It will include commercial buildings and other infrastructure to attract investment and support economic activity.
The minister said the project will create jobs and help improve urban development in Karachi. He added that it will also open new opportunities for trade and investment in the maritime sector. He described the plan as an important step to use Pakistan’s coastal assets more effectively. Chaudhry said all legal and regulatory rules under Pakistani law will be followed before work begins. He also said the government will ensure transparency at every stage of the project.
According to the ministry, Saudi delegates showed strong interest in expanding cooperation in ports and maritime infrastructure. They also discussed possible investment in logistics and related development projects.
Officials said the agreement is part of wider efforts by Pakistan and Saudi Arabia to strengthen economic relations. Both sides are looking at opportunities in trade, shipping, ports, and infrastructure development.
Historic MoU Signed for Development of a World-Class Maritime Business District at Karachi Port Trust
KPT has entered into a Memorandum of Understanding (MoU) with Saudi Business Council–NAJD Gateway Holding Company, Arif Habib Dolmen REIT Management Limited (AHDRML) and the… pic.twitter.com/R2NUZ1ZyhO
— Karachi Port Trust Official (@official_kpt) June 6, 2026
The minister said the project could become one of the largest water front developments in the region, depending on approvals. He added that the plan is still in the early stage and will move forward after clearance from authorities. Earlier, the ministry had invited proposals for the development of the same 140 acre site. It suggested a joint venture model where Karachi Port Trust would act as a partner in the project.
Chaudhry also shared plans to expand the Pakistan National Shipping Corporation fleet by 50%. He said the goal of increasing the fleet to 30 ships should now be achieved in a shorter time than originally planned.
