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Pakistan, Saudi Arabia and local partners have signed a memorandum of understanding (MoU) to explore the development of a maritime business district on prime Karachi Port Trust’s (KPT) waterfront land, the maritime affairs ministry said on Saturday.
In a statement, Maritime Affairs Minister Junaid Anwar Chaudhry said the MoU was signed between KPT, Saudi Business Council–Najd Gateway Holding Company, Arif Habib Dolmen REIT Management Limited (AHDRML), and the Pakistan Corporate Consortium.
The proposed project would be built on a 140‑acre KPT site on Karachi’s MT Khan Road and is intended to transform the area into a major commercial and maritime hub, the minister said.
The development is envisaged to include modern commercial infrastructure aimed at attracting investment, generating employment, and supporting urban development, he added.
