The MOU was formalized between Karachi Port Trust (KPT), the Saudi Business Council–Najd Gateway Holding Company, and Arif Habib Dolmen REIT Management Limited (AHDRML) on Saturday, as stated by Minister of Maritime Affairs Junaid Anwar Chaudhry during a press briefing.
The KPT has allocated 140 acres of prime land for the proposed business district, intending to turn the area into a significant commercial and maritime center, he noted.
“The primary objective is to realize the vast potential of the KPT and to establish modern infrastructure that will generate job opportunities and foster urban development,” Chaudhry remarked.
Consequently, the Ministry is also considering increasing the fleet of the Pakistan National Shipping Corporation by 50%.
The minister further confirmed that all necessary regulatory and legal standards under Pakistani law will be adhered to before advancing the project.
