ISLAMABAD

Pakistan and Saudi partners have signed a memorandum of understanding (MoU) to explore the development of a crypto and blockchain zone at Karachi Port as part of a broader plan to transform a prime waterfront site into a major commercial and maritime business hub.

The proposed project will be developed on a 140-acre Karachi Port Trust (KPT) site located on MT Khan Road and is envisioned as one of the largest waterfront developments in the region. The MoU was signed between KPT, the Saudi Business Council–NAJD Gateway Holding Company, Arif Habib Dolmen REIT Management Limited and the Pakistan Corporate Consortium.

Under the agreement, a dedicated crypto and blockchain zone will be established alongside a digital banking park, Islamic finance centre and specialized banking facilities, signaling a major push toward digital finance and emerging technologies.

The wider project also includes plans for a marine technology and logistics zone, smart port integration systems, digital customs services and maritime software development initiatives aimed at modernizing Pakistan’s maritime economy.

Officials say the waterfront development is intended to attract international investment, generate employment opportunities and position Karachi as a regional hub for commerce, finance and technology. The project blueprint also includes convention centres, corporate towers, hotels, healthcare facilities and educational institutions.

The initiative comes as Pakistan moves toward developing a regulatory framework for digital assets and cryptocurrency-related activities, while simultaneously seeking greater foreign investment in technology, infrastructure and logistics sectors.

Federal Maritime Affairs Minister Muhammad Junaid Anwar Chaudhry said all legal and regulatory requirements under Pakistani law would be fulfilled before development work begins, adding that the project could become a landmark investment venture for Karachi’s waterfront and Pakistan’s digital economy.