Saudi and Pakistani partners eye 140-acre Karachi waterfront development

Saudi partners look to Pakistan for next maritime development push: Najd Gateway Holding and the Saudi Business Council have partnered with Karachi Port Trust (KPT), Pakistan’s Arif Habib Dolmen REIT, and Pakistan Corporate Consortium to explore developing a 140-acre maritime business district on Karachi’s waterfront through a joint-venture structure, according to a statement from the Pakistani Maritime Affairs Ministry.

A waterfront mega-project in the making: The proposed development could become one of the region’s largest waterfront commercial projects, Dawn reports, citing Pakistani Maritime Affairs Minister Junaid Anwar Chaudhry. Under the MoU, the port will act as a strategic partner in developing an industrial park. In the meantime, regulatory approvals and the final legal structure are still being ironed out.

Why it matters: Saudi Arabia has spent the last few years investing heavily in domestic ports, industrial zones, and logistics hubs like Oxagon, King Abdullah Economic City, and Jeddah Central. The Karachi project signals a new phase where Riyadh exports its maritime and logistics expertise across the Arabian Sea, strengthening its role in trade routes linking the Gulf with South Asia.

Pakistan has been laying the groundwork: The agreement builds on a wider push by Islamabad to deepen maritime ties with the Kingdom. Last year, Pakistan advanced proposals for dedicated Saudi gateway terminals in Karachi and Gwadar, alongside direct shipping links connecting Jeddah with Karachi and Dammam with Gwadar, as part of its strategy to position itself as a trade bridge between the Gulf and Central Asia.