City tycoonSudhir Ruparelia has confirmed he bought Lotis Towers, a multi-million dollar building in Kampala after a bank auction.
The 14-storied upscale building located at plot 16 MacKinnon road, Nakasero, developed cracks in 2022, compelling several tenants to leave.
“It is true I have bought it after an auction. The building has been on the market for a long time” Mr Sudhir, the Kampala business tycoon told Eagle Online
Sudhir Ruparelia on May 2, 2024 informed tenants that he had bought the building.
Some of the affected tenants are Judicial Service Commission-JSC, Cairo Bank International, British American Tobacco-BAT, and the Democratic Governance Facility-DGF.
“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,” Sudhir said in a memo to tenants.
“Therefore, all your dealings will be with the new landlord,” he added.
“Accordingly, please ensure that you submit all your current signed tenancy agreements with proof of payment made up-to-date in order to regularise the tenancy agreement with the new landlords,” Sudhir emphasised.
“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 building was formerly owned by real estate mogul, Samuel Lotigo.
