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Karachi: Pakistan has signed a memorandum of understanding with Saudi and local partners to explore the development of a maritime business district on prime Karachi Port Trust waterfront land. Federal Maritime Affairs Minister Muhammad Junaid Anwar Chaudhry announced that the MoU was signed between KPT, Saudi Business Council-NAJD Gateway Holding Company, Arif Habib Dolmen REIT Management Limited, and the Pakistan Corporate Consortium.
According to Radio Pakistan, the proposed project would be established on a 140-acre KPT site located on MT Khan Road, Karachi. The initiative aims to transform the area into a major commercial and maritime hub, enhancing the region’s economic landscape and fostering international partnerships.