On March 11, 2013 Pakistan Business tycoon Malik Riaz signed an agreement with an American investor Thomas Kramer to build Bodha Island City in Bundal Island which is located along the cost of Karachi.
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There is a dispute between the provincial government of Sindh and Karachi Port Trust on the ownership rights of 12,000 acres (49 km²) of land in these Islands.
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Bahria Town signed a joint venture with the companies of Thomas Kramer to develop Bodha Island City on Bundal and Buddo Islands with a cost of $20 Billion.
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