Sudhir Ruparelia, a Ugandan business titan, has caused waves in the real estate market once more with the acquisition of Lotis Towers, a prestigious 14-story edifice nestled at Plot 16 MacKinnon Road, Nakasero in a surprising turn of events.
After a very competitive auction, Sudhir won, establishing himself as a powerful player in the local business community. With this transaction, Sudhir’s entrepreneurial path reaches a major turning point, raising questions regarding the future of one of the city’s most recognisable monuments.
The acquisition, orchestrated through dfcu Bank, culminated in a high-stakes auction, with Sudhir emerging as the triumphant bidder for this coveted property.
Sudhir acknowledged his acquisition by saying, “It’s true that I got it following an auction. The structure has been for sale for a considerable amount of time.” This declaration emphasises the strategic intent underlying Sudhir’s most recent venture, putting him in charge of one of the architectural highlights of the city.
Tenants of Lotis Towers were formally informed of the transfer on May 2, 2024. Tenants were notified of the ownership transition by a letter from Sudhir’s solicitors, who made it clear that going forward, all correspondence would be with the new landlords.
The notification read, “This serves to communicate that property in Freehold Register Volume KCCA 40, Folio 23, Plot 16, Army Avenue, Nakasero, Kampala was sold according to a public auction by DFCU Bank Ltd through its auctioneers Jubilee Auctioneers to Dr. Sudhir Ruparelia and Jyotsna Ruparelia.”
To formalise their agreements with the new landlords, tenants were also requested to turn in their present tenancy papers and evidence of payment. A stringent instruction was sent out that all rent payments—past and present—had to be made to the new landlords only, and cash transactions were specifically forbidden.
Lotis Towers has long been a mainstay of Kampala’s business scene. It was once owned by real estate tycoon Samuel Lotigo. The skyscraper, which houses prestigious organisations including Cairo Bank, British American Tobacco (BAT), and the Judicial Service Commission (JSC), is evidence of the city’s thriving economy.
With this transaction, Sudhir’s remarkable career enters a new phase and demonstrates his intention to continue influencing Uganda’s real estate industry. There is a great deal of excitement about the future course of Lotis Towers and its place in Kampala’s changing urban landscape as it moves into new hands.
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