Sudhir Ruparelia has secured ownership of Lotis Towers, a prestigious multi-million dollar building nestled in the heart of Kampala.
The transaction, facilitated through dfcu Bank, marks a significant development in the city’s property landscape.
The 14-story upscale edifice, prominently situated at Plot 16 MacKinnon Road, Nakasero, has long been revered as a symbol of architectural excellence and corporate sophistication. Confirming the purchase, Mr. Sudhir revealed that the acquisition transpired through a rigorous auction process, elucidating the building’s prolonged tenure on the market.
“It is true I bought it after an auction. The building has been on the market for a long time,” affirmed Mr. Sudhir in an exclusive statement to this publication.
On May 2, 2024, Mr. Ruparelia formally apprised tenants of the change in ownership, signaling a new chapter for Lotis Towers. In a communiqué issued by his legal representatives, tenants were duly notified of the transition and instructed to direct all future dealings to the new landlord.
“This serves to communicate that property 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,” stated the notice from Mr. Sudhir’s attorneys.
The missive further outlined procedural guidelines for tenants, emphasizing the imperative of updating tenancy agreements and remitting rent payments exclusively to the new proprietors.
Lotis Towers, previously under the ownership of real estate luminary Samuel Lotigo, has served as a bastion for several esteemed entities, including Cairo Bank, British American Tobacco (BAT), and the Judicial Service Commission. The acquisition by Mr. Sudhir heralds a new era of stewardship for this architectural gem, promising continued prosperity and innovation in Uganda’s commercial landscape.
