Pakistan & Saudi Arabia Sign MoU for Mega 140-Acre Maritime Business Hub on Karachi Port Trust’s Waterfront

Pakistan and Saudi Arabia, along with local partners, signed a memorandum of understanding (MoU) on June 6, 2026, to explore the development of a maritime business district on prime waterfront land owned by the Karachi Port Trust (KPT).

The agreement was signed between KPT, the Saudi Business Council–Najd Gateway Holding Company, Arif Habib Dolmen REIT Management Limited (AHDRML), and the Pakistan Corporate Consortium.

Waterfront Development and Infrastructure

The proposed project will be situated on a 140-acre KPT site located on MT Khan Road in Karachi. According to Maritime Affairs Minister Junaid Anwar Chaudhry, the initiative is intended to transform the area into a major commercial and maritime hub.

The development is envisaged to include modern commercial infrastructure. The ministry stated that these facilities are aimed at attracting investment, generating employment, and supporting urban development.

This strategic collaboration is a transformative opportunity to unlock the full potential of KPT’s waterfront assets and position Pakistan as a regional hub for maritime commerce and investment.

Junaid Anwar Chaudhry, Maritime Affairs Minister

Minister Chaudhry affirmed that all legal and regulatory requirements under Pakistani law must be met before the project proceeds.

Saudi-Pakistani Economic Cooperation

Members of the Saudi delegation expressed interest in broader cooperation within the maritime sector, including potential involvement in port infrastructure and related projects.

The visit and the resulting MoU are part of wider efforts by Islamabad and Riyadh to deepen economic ties. These efforts involve exploring investment opportunities in infrastructure, logistics, ports, and trade facilitation.

Chaudhry noted that, subject to regulatory approvals, the development could become one of the largest waterfront commercial projects in the region.

Strategic Background and Shipping Goals

The current agreement follows previous initiatives by the maritime affairs ministry. In November 2025, the ministry invited proposals from the business community for the development of the 140 acres of KPT land, proposing a joint venture model where the port would act as a strategic partner to establish an industrial park.

In addition to the waterfront project, the government plans to expand the fleet of the Pakistan National Shipping Corporation (PNSC) by 50 percent.

Minister Chaudhry stated that the PNSC’s target of 30 vessels, which was initially planned for achievement over three years, should now be reached within one year.