August 05, 2012 (LBO) – Pakistan based Lakhani group is looking to invest eight million dollars to build a university and a three star city hotel in Colombo, a top executive said. Naveed Hussain Lakhani, Chairman of Imperial builders (Pvt) Ltd, a subsidiary of the Lakhani group said the company is currently looking for a suitable site in Colombo for the proposed hotel.
“We have requested for land and is currently looking for a suitable place,” Lakhani said.
The company is to make an initial investment of three million dollars on the hotel and another five million on a purpose built university likely to offer degree courses in fashion designing and management studies.
“We have prepared proposals for the BOI and is awaiting a response,” he said.
Imperial builders Tuesday announced an investment of twenty five million dollars to kick start the second stage of a housing project for Slave Island slum dwellers facilitated by the urban development authority.
The company is also doing some mixed development in the remaining land once the dwellers are relocated in apartment style units.
Lakhani group has operations in real estate, construction, investment, ed