Pakistan, Saudi firms sign deal to develop 140-acre maritime business district at KPT

• Maritime affairs ministry says 140-acre project to feature modern commercial infrastructure for investment

• Waterfront project to transform Karachi Port into major commercial hub

• MoU signed with Saudi Business Council and local consortium partners

 KARACHI: Pakistan on Saturday signed a memorandum of understanding (MoU) with Saudi and local firms to develop a maritime business district on Karachi Port Trust (KPT) waterfront land, the maritime ministry said.

The 140-acre maritime business district project, featuring modern commercial infrastructure, will be developed on KPT land and aims to transform the area into a major commercial and maritime hub. The initiative is expected to attract investment, generate employment opportunities and support urban development, according to the ministry.

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

The MoU was signed between Karachi Port Trust, the Saudi Business Council–NAJD Gateway Holding Company, Arif Habib Dolmen REIT Management Limited and the Pakistan Corporate Consortium, the maritime affairs ministry said.

Maritime Affairs Minister Junaid Anwar Chaudhry termed the agreement a “transformative opportunity” to unlock the full potential of KPT waterfront assets and position Pakistan as a regional hub for maritime commerce and investment.

He said the project, subject to regulatory approvals, could emerge as one of the largest waterfront commercial developments in the region.

According to the ministry, members of the Saudi delegation expressed interest in broader maritime cooperation, including potential participation in port infrastructure and related projects.

The agreement was signed during the visit of a high-powered Saudi delegation led by Chairman of the Saudi-Pak Joint Business Council Prince Mansour bin Mohammad Al Saud, who arrived in Islamabad earlier this week.

Chaudhry said the visit formed part of broader efforts by Pakistan and Saudi Arabia to deepen economic ties and explore investment opportunities in ports, logistics, infrastructure and trade facilitation.

The agreement aligns with Pakistan’s ongoing strategy to promote its ports as key gateways for trade with landlocked Central Asian states. In recent months, Islamabad has actively pursued partnerships with foreign investors to expand port capacity, logistics networks and supporting infrastructure.

Saudi Arabia remains one of Pakistan’s key economic partners, with both countries continuing to explore investment opportunities in mining, energy, infrastructure and logistics sectors over the past several years.