City Tycoon Sudhir Ruparelia Expands Empire After Buying Lotis Towers From DFCU Bank

City Tycoon Sudhir Ruparelia Expands Empire After Buying Lotis Towers From DFCU Bank

By Spy Uganda

Kampala: Property Mogul Sudhir Ruparelia has acquired Lotis Towers from DFCU Bank through a public auction by Jubilee Auctioneers.

In a memo dated May 2, 2024, addressed to the building’s occupants, Sudhir confirmed his acquisition of the property located at Plot 16, Army Avenue, Nakasero, Kampala, following a public auction conducted by DFCU Bank Ltd, with Jubilee Auctioneers overseeing the process.

”This serves to communicate that property comprised in Freehold Register Volume KCCA 40, Folio 23, Plot 16, Army Avenue, Nakasero, Kampala was sold pursuant to a public auction by DFCU Bank Ltd through its auctioneers Jubilee Auctioneers to Dr. Sudhir Ruparelia and Jyotsna Ruparelia. Therefore, all your dealings will be with the new landlord,” reads part of the Memo to the tenants.
Memo From The New Landlord Sudhir Ruparelia

“Accordingly, please ensure that you submit all your current signed tenancy agreements with proof of payment made up-to-date in order to regularize the tenancy agreement with the new landlords. Furthermore, irrevocably all rent and/or any arrears should be paid to your new landlords on the following Bank account details only (No cash payment allowed).” the Memo adds.

It is worth noting that In 2022, the 14-storied building formerly owned by businessman Samuel Lotigo, developed cracks compelling several tenants to vacate the building citing safely concerns.

The safely concerns came after a report by lawmakers established that the reinforced concrete column on the Sixth Floor of Lotis Towers, constructed by Roko Company, had suffered “compression failure” and the integrity of the building was threatened.

The National Building Review Board (NBRB) revealed that several columns with similar signs of failure were observed in the basement.

However, Eng. Kenneth Magembe from Armstrong Consulting, the consultants of the project, said among the 21 columns, only one column on the 6th floor has developed minor cracks and in the basement.

Some of the affected tenants were the Judicial Service Commission-JSC, Cairo Bank International, British American Tobacco-BAT, and the Democratic Governance Facility-DGF.

But now, with Dr. Sudhir’s expertise and track record in the real estate business, we can bet that Lotis Tower will be the most sought after building in the city.

Lotis Tower now joins Ruparelia’s long list of commercial buildings in Kampala including, Kingdom Kampala, The Cube, Kampala Boulevard, Electrical Plaza, Market Plaza, Hardware City, Crane Chambers, Gender and Labour House among others. an accessible web community

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