ISLAMABAD: Pakistan has signed a memorandum of understanding (MoU) with Saudi and local partners to explore the development of a maritime business district on prime Karachi Port Trust (KPT) waterfront land, Pakistan’s Ministry of Maritime Affairs said on Saturday.
The MoU 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, according to a statement issued by the maritime affairs ministry.
The proposed project would be built on a 140-acre KPT site located on Karachi’s MT Khan Road and is intended to transform the area into a major commercial and maritime hub.
Under the leadership of Federal Minister Muhammad Junaid Anwar Chaudhry, a world-class Maritime Business District will be developed on 140 acres of KPT land. MoU signed among Pakistani, Saudi, and local partners.@official_kpt @ministermoma pic.twitter.com/KR4FHlVi4B
— Ministry of Maritime Affairs, Govt of Pakistan (@MaritimeGovPK) June 6, 2026
According to the ministry, the project is envisaged to include modern commercial infrastructure designed to attract investment, generate employment and support urban development in Pakistan’s largest city.
Maritime Affairs Minister Junaid Anwar Chaudhry said the partnership represented a significant opportunity to unlock the economic potential of KPT’s waterfront assets.
“This strategic collaboration is a transformative opportunity to unlock the full potential of Karachi Port Trust’s waterfront assets and position Pakistan as a regional hub for maritime commerce and investment,” the minister said.
The ministry said all regulatory and legal requirements under Pakistani law would be fulfilled before the project moves forward.
Members of the Saudi delegation expressed strong interest in expanding cooperation in Pakistan’s maritime sector, including possible participation in port infrastructure and related development projects.
The visit is part of wider efforts by Islamabad and Riyadh to deepen economic ties and explore investment opportunities in ports, logistics, infrastructure and trade facilitation.
Pakistan has been seeking increased foreign investment from Gulf countries, particularly Saudi Arabia, as it pursues economic reforms and infrastructure-led growth initiatives.
The maritime minister said the proposed waterfront development, subject to regulatory approvals, could emerge as one of the largest commercial waterfront projects in the region.
In November last year, the ministry had invited proposals from the business community for the development of 140 acres of KPT land, proposing a joint venture model where the port acts as a strategic partner to establish an industrial park.
Chaudhry had also said the government planned to expand the Pakistan National Shipping Corporation’s (PNSC) fleet by 50 per cent. He said the PNSC’s target of 30 vessels, initially planned for three years, should now be achieved within a year.
