"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, education, hotel management, consultancy and project management in Pakistan.
The Lakhani group runs Iqra University in Karachi, Asian Institute of Fashion Design, and the Asian Management Institute in Pakistan.