Saudi Arabia is exploring the establishment of a crypto and blockchain zone in Karachi as part of a broader investment initiative that could reshape Pakistan’s commercial, financial and maritime landscape.
The proposal forms part of a wider cooperation framework discussed during a visit by a Saudi delegation to Pakistan. Officials from both countries are also examining opportunities in energy, port infrastructure, digital finance and real estate development.
The move comes as Pakistan accelerates efforts to regulate cryptocurrency trading and digital assets. The government has recently signalled support for a formal regulatory framework aimed at attracting foreign investment and promoting financial innovation.
At the centre of the proposed collaboration is a Memorandum of Understanding signed between the Karachi Port Trust (KPT), Saudi Business Council-Najd Gateway Holding Company, Arif Habib Dolmen REIT Management Limited and the Pakistan Corporate Consortium.
According to officials, the project will transform a 140-acre KPT site on MT Khan Road into a modern maritime and commercial district.
Crypto, Banking and Digital Finance in Focus
Sources familiar with the proposal said Pakistan has presented several flagship projects to Saudi investors.
Among them is a dedicated crypto and blockchain zone designed to support digital asset businesses, blockchain innovation and emerging financial technologies.
Officials have also proposed a digital banking park, Islamic finance centre and modern banking units as part of the development.
The initiative aligns with Pakistan’s broader push to modernise its financial sector and attract technology-driven investment. Policymakers have increasingly highlighted blockchain technology, fintech and digital banking as potential drivers of economic growth.
The project could also strengthen Pakistan’s position as a regional technology and financial hub if it secures regulatory approvals and investment commitments.
At the same time, Saudi Arabia continues to expand its footprint in emerging technologies under its Vision 2030 diversification strategy, which seeks to reduce reliance on oil revenues and invest in innovation-driven sectors.
Maritime Hub Planned for Karachi Waterfront
The proposed development extends beyond financial technology.
Pakistan has also suggested creating a marine technology and logistics zone, smart port integration facilities and digital customs and shipping services. Officials are additionally considering research and development initiatives focused on maritime software solutions.
In healthcare and education, the proposal includes international hospitals, a medical university and a maritime and trade law school.
Developers have also outlined plans for skyscrapers, luxury hotels, corporate headquarters and a convention centre.
Minister for Maritime Affairs Muhammad Junaid Anwar Chaudhry described the project as a significant opportunity for economic transformation.
“This strategic collaboration is a transformative opportunity to unlock the full potential of Karachi Port’s waterfront assets and position Pakistan as a regional hub for maritime commerce and investment,” he said.
The minister added that authorities would fulfil all legal and regulatory requirements before moving forward.
Officials said Saudi investors also expressed interest in wider maritime cooperation, including port infrastructure projects.
The discussions come as Pakistan seeks greater foreign investment in strategic sectors. Saudi Arabia has already considered investments in mining, energy and infrastructure projects, while Islamabad has proposed an oil refinery and strategic oil reserves at Gwadar.
If realised, the Karachi waterfront initiative could become one of the largest Saudi-backed urban development projects in Pakistan in recent years.
