Karachi: Pakistan has signed a memorandum of understanding (MoU) with Saudi and local partners to develop a maritime business district on 140 acres of Karachi Port Trust waterfront land along MT Khan Road. The project aims to create a modern commercial and maritime hub, attracting investment, generating employment, and supporting urban and economic development in Karachi. The agreement involves Karachi Port Trust, Saudi Business Council–NAJD Gateway Holding Company, Arif Habib Dolmen REIT Management Limited, and the Pakistan Corporate Consortium. Federal Minister for Maritime Affairs Muhammad Junaid Anwar Chaudhry highlighted that this initiative will enhance Pakistan’s position in regional maritime trade and investment.
