pakistan
Pak signs MOU with Saudi, Local Partners for 140-Acre Karachi Waterfront Development :Minister
Key takeaways
- The proposed project would be built on a 140?acre KPT site on MT Khan Road, Karachi, and is intended to transform the area into a major commercial and maritime hub.
- The development is envisaged to include modern commercial infrastructure aimed at attracting investment, generating employment, and supporting urban development.
- Junaid Chaudhry said all regulatory and legal requirements under Pakistani law will be met before the project proceeds.
Why this matters: local context for readers following news across Pakistan and the region.
Add ARY News on Google AAResize ISLAMABAD: Pakistan has signed a memorandum of understanding (Mo U) with Saudi and local partners to explore the development of a maritime business district on prime Karachi Port Trust (KPT) waterfront land.
Federal Maritime Affairs Minister Muhammad Junaid Anwar Chaudhry said the Mo U 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 MT Khan Road, Karachi, and is intended to transform the area into a major commercial and maritime hub.
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