UGANDA, Kampala | Real Muloodi News | Sudhir Ruparelia has acquired Lotis Towers, a 14-story building located at plot 16 MacKinnon Road, Nakasero, Kampala.
The purchase follows a public auction held by DFCU Bank Ltd and managed by Jubilee Auctioneers. Lotis Towers, previously owned by real estate mogul Samuel Lotigo, experienced structural issues in 2022.
The building was constructed by Roko Company and developed cracks on its reinforced concrete column on the sixth floor, prompting tenants to vacate the premises.
A report from lawmakers confirmed “compression failure” in the building’s columns and noted that its integrity was compromised.
The National Building Review Board (NBRB) found signs of failure in several columns, particularly in the basement.
Kenneth Magembe from Armstrong Consulting, a consulting firm for the project, stated that only one column on the sixth floor showed minor cracks in the basement out of the 21 columns examined.
The building housed various tenants, including the Judicial Service Commission (JSC), Cairo Bank International, British American Tobacco (BAT), and the Democratic Governance Facility (DGF), all of whom were affected by the structural issues.
On May 2, 2024, Ruparelia informed the building’s tenants of his purchase of Lotis Towers. In a memo, he confirmed that the property was sold through a public auction and that all dealings would be with the new landlords, Dr. Sudhir Ruparelia and Jyotsna Ruparelia.
“Therefore, all your dealings will be with the new landlord,” Ruparelia stated in the memo.
He also requested tenants to submit their current signed tenancy agreements and proof of up-to-date payment to regularise agreements with the new landlords.
Ruparelia emphasised that all rent and arrears must be paid to the new landlords using specified bank account details, without any cash payments.
Ruparelia’s acquisition of Lotis Towers adds to his portfolio of real estate investments.
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