Sudhir Rupar Lia’s Ruparelia Group on Saturday officially launched its ultra-modern commercial building in Kampala’s Central Business district (CBD), a development that should help boost rental space in the city.
All new customers will be getting three months free rent.
The building dubbed Electrical Plaza is located on Market Street in Nakasero, and made up of 220 shops, 56 apartments and two floors of parking.
The building is the latest addition to Ruparelia Group’s business empire and its being run by Crane Management Services (CMS) – the property management arm of the group.
CMS is a leading real estate company that manages other buildings like The Cube, Hardware City, Hardware Plaza, Kampala Boulevard, Market Plaza, Kingdom Kampala and Speke Apartments on Wampeewo Avenue and Kintante among others.
Other Ruparelia Group investments already in place include, Speke Resort Munyonyo, Munyonyo Commonwealth Resort, Kabira Country Club, Speke Hotel 1996, Speke Apartments, Forest Cottages Naguru, Dolphine Suites Bugolobi, Victoria University, Kampala Parents School, Dheli Public School, Kampala International School of Uganda, Goldstar Insurance, Sanyu Fm 2000 Limited, Meera Investments, Rosebud, Premier Roses and Premier Recruitment Services.
Meanwhile Sudhir has scoffed at Bank of Uganda legal advisers saying they deliberately mislead the Central Bank for selfish interests.
Sudhir who won a case against Bank of Uganda on a technical ground last month when Commercial Court ruled that Crane Bank in (receivership) didn’t have audacity to sue its former owner- Mr Sudhir has roared, “I am ready for you today, tomorrow and when I am dead.”
BoU along with Crane Bank (in receivership) had dragged the businessman to court seeking a refund of shs 397 billion he allegedly pulled out of Crane Bank that belonged to customers.
Sudhir through Kampala Associated Advocates, they argued that the law quoting the Financial Act of 2004 doesn’t allow a bank which is under receivership to sue its former owner.
Therefore, Court dismissed the case with legal costs.
But Bank of Uganda Communications Director announced that the regulator was intending to appeal the decision made Justice David Mangutusi.
Reacting to Bank of Uganda’s attempt to appeal, Sudhir who Saturday was launching the new commercial building in Downtown Kampala- Electrical Plaza, said he is ready to face BoU again in Court.
“Me, I am ready, today, tomorrow or even when I am dead my son will takeover. Let me tell you, law is law, nobody can reinvent law. You see they created this law to protect themselves. They are saying no body can sue them. So we used the same law to defeat them,” he said.
