• Wed. Jun 7th, 2023

Amidst the pandemic, Uganda’s wealthiest splurged their money into technology, real estate, health, and others. Here are Uganda’s top 10 richest real estate muloodis 2021 ranked in order of their net worth in dollars:

John Bosco Muwonge – Net Worth USD 1.8 Billion
John Bosco Muwonge's New Arua Park Complex. Left to right: Paul Lubega, John Bosco Muwonge, John Ssebalamu, Christine Ssebalamu.
John Bosco Muwonge’s New Arua Park Complex. Left to right: Paul Lubega, John Bosco Muwonge, John Ssebalamu, Christine Ssebalamu. Image Source: Spy Uganda and Daily Monitor.

John Bosco Muwonge tops the list of the wealthiest real estate muloodis in Uganda. He is an allusive billionaire who is rarely seen in public.

Unlike billionaires such as Sudhir Ruparelia who through his charity spends a lot on social causes and corporate social responsibility activities, Mr Muwonge collects a lot of money from his many commercial buildings in Kampala’s central business district – and focuses on building more!

He collects most of his earning from commercial real estate in Kampala’s central business district, which includes:

  • Cornerstone, Discount Mall
  • Shamba Complex
  • Shauriyako Ggagawala
  • Namayiba Bus Terminal
  • Gwanda Mall Kisenyi
  • Superior Complex
  • New Arua Park Complex, 
  • A street in Nabugabo
  • Over 40 construction sites in Kampala
  • 400 acres of land in the Kisenyi area

John Bosco Muwonge, Paul Lubega, John Ssebalamu, Haruna Ssegawa and Christine Nabukeera are siblings; a family of first generation real estate muloodi billionaires who own a significant part of Kampala City.

Sudhir Ruparelia – Net Worth USD 1.2 Billion
Dr. Sudhir Ruparelia. Aerial View of Munyonyo Speke Resort
Dr. Sudhir Ruparelia. Aerial View of Munyonyo Speke Resort, Source: Booking.com

Renowned real estate muloodi, Dr. Sudhir Ruparelia, had been at the top of the real estate game in Uganda for a long time. He owns over 17 companies under his Ruperalia Group, that contribute to Kampala’s hospitality, real estate, media, education, and finance sectors.

Sudhir recently announced two new luxury property development projects: Kampala Kingdom Hotel and Pearl Business Park. He has many properties in Kampala, and commercial buildings in downtown Kampala. Some of his popular properties include:

  • Kabira Country Club 
  • Forest Cottages Kampala
  • Munyonyo Speke Resort
  • Kingdom Kampala
  • Speke Apartments
  • Kampala Parents’ School
  • Victoria University

Drake Lubega – Net Worth USD 1 Billion
Real estate muloodis
Drake Lubega and his Qualicel Bus Terminal and Shopping Centre. Image Source: PML Daily.

Mr Drake is the proud owner of several commercial buildings in downtown Kampala. He is famous for building or purchasing properties worth USD 7 million or less every six months, as he collects the rent. Some of his properties include:

  • Qualicel Bus Terminal
  • Totali Building, Kikuubo Buildings
  • Buildings at Nakivubo Blue
  • Mini Price Buildings 
  • Elite Secondary School in Bwebajja

Hamis Kiggundu – Net Worth USD 870 Million
Real Muloodi Hamis Kiggundu's UD$5 Million Mansion.
Real Muloodi Hamis Kiggundu’s UD$5 Million Mansion. Image Courtesy of Real Muloodi News

Mr Hamis Kiggundu appears on the list for the first time. The young tycoon is increasingly investing in real estate, agro-processing, education, technology among others.

He is the owner of Ham Properties, Ham Towers, and a 5-million-dollar mansion on the shores of Lake Victoria, which is said to be one of the largest luxury homes in Uganda. His home features several luxury amenities, including a helicopter pad, swimming pool, basketball court, indoor cinema, and twenty-five bedrooms.

Mr Kiggundu is currently developing ‘Ham Palm Villas’ a luxury residential estate comprising 500 fully serviced modern houses on about 200 acres of land, making it the largest luxury residential community in Uganda. 

Karim Hirji – Net Worth USD 800 Million
Karim Hirji
Karim Hirji and his Imperial Royale Hotel. Image Source: Twitter, Karim Hirji

Karim Hirji is a businessman, hotel owner, and entrepreneur in Uganda. He is reported to be one of the wealthiest individuals in Uganda, with an estimated net worth of about US$800 million. Although affected significantly by the pandemic, Karim Hirji, also known as Dembe, continues to invest in the real estate sector, a significant source of his wealth. Here are his famous properties:

Alykhan Karmali (The Mukwano Family) – Net Worth USD 700 Million
Alykhan Karmali
Media Plaza one of Mukwono’s properties. Source: Mukwano Properties. Image Source: Google Maps

Alykhan Karmali is a businessman, entrepreneur, industrialist, and philanthropist in Uganda. He is now the managing director of Mukwano Industries Uganda Limited, a member company of the Mukwano Group, an empire his father, Amirali Karmali, built from scratch.

Alykhan’s paternal grandfather, Ali Mohamed Karmali, was an Indian businessman who came to Uganda in 1904. He began working as a shop assistant in Jinja, before relocating to Mbarara in the Western Region of Uganda. Later, he settled in Bukandula in present-day Gomba District in the Buganda Region of Uganda. There, in partnership with other Asian families, he did a booming trade in cotton and coffee. He had so many friends that he was called “Mukwano gwa Bangi” in the Luganda language, meaning ‘Friend of Many”. The family abbreviated it to “Mukwano” which translates to “Friend” and named the family business after him.

The family relocated to Fort Portal, Kabarole District, where Alykhan’s father, Amirali Karmali gained a second-hand truck and began transporting produce to Kampala. Later Amirali moved to Kampala.

Alykhan’s father rose to prominence as wealthy Ugandan businessman, entrepreneur, and manufacturer who lived from 1 January 1930 until 10 July 2019. He was the CEO, founder, and sole proprietor of the Mukwano Group of Companies, a diversified conglomerate with holdings in banking, real estate, plastics, agro-processing, logistics, transportation, and production of fast-moving consumer products, among other things. He was one of Uganda’s wealthiest people at the time of his death in 2019.

Amirali Karmali died in Kololo, a posh Kampala neighbourhood and passed the family empire over to his son, Alykhan.

Mukwano family ranks fifth on this list. The proud owners of several Mukwano Industries all over Uganda are also real estate magnates, and they have numerous properties downtown and around Uganda. Some of their popular buildings include:

  • Mukwano Courts
  • Mukwano Center, downtown
  • Mukwano Mall
  • Nyonyi Gardens
  • Media Plaza

Haruna Sentongo – Net Worth USD 420 Million
The richest real estate muloodis
Haruna Ssentongo and Haruna Towers. Image Source: The Spy

Joining Hamis Kiggundu for the first time on this list, is Hamis’ younger brother, Sentongo Haruna, another youthful entrepreneur whose business acumen has seen him rise from a petty trader in ladies’ bags and garments, to a now big player in commercial and residential properties, and prime land owner in Kampala city. Haruna Properties house over 2,000 businesses, and on average 100,000 customers within Uganda and the neighbouring countries.

Mr Haruna is the prominent owner of Nakayiza market, Haruna Towers, NM apartments, Segawa market, Haruna Towers in Ntinda, among many other noticeable properties in Uganda.

Tom Kitandwe – Net Worth USD 10 Million
City Tycoon Tom Kitandwe's Mackay Plaza and Nakassero Complex.
City Tycoon Tom Kitandwe’s Mackay Plaza and Nakassero Complex. Image Source: Real Muloodi News Network.

In addition to the several buildings in Kampala Central Business District that Tom Kitandwe owns, he also owns a multimillion posh residence seated on land 47 miles along Mityana Road, worth over Shs800 million. Famously known for growing his empire from Kikuubo as a wheat agent, Mr Kitandwe whose wealth is in the excess of USD10M now owns several shopping arcades, residential properties, and commercial buildings including:

  • Nakasero Complex on Nakivubo Road
  • Mid City Arcade on Nakivubo Road
  • Mackay Buildings on Old Rashid Khamis Road
  • Giant Shopping Arcade in Kikuubo
  • Other buildings in Arua Park, Park Yard, and behind Gazalan

Christine Nabukeera
Christine Nabukeera
Christine Nabukeera and her Kisekka Auto Center Plaza. Image Source: YouTube Imgaes

Distinctively known as one of Kampala’s most successful property moguls, Christine Nabukeera is also the sister to the Muwonge/Sebalamu brothers.

Ms Christine owns prominent properties such as:

  • Kisekka Auto Center Plaza
  • Victor Plaza in Kikuubo,
  • Nana Arcade in Nabugabo, and many others. 

John Sebalamu
John Sebalamu's Freedom City.
John Sebalamu’s Freedom City.

John Sebalamu is a multiple property owner in Uganda credited with starting the culture of the now mushrooming shopping arcades in the heart of Kampala. Mr John owns several properties in Kampala, including Freedom City Mall, which cost him US $1 million, Capital House, Naiga Chambers, and several other prominent properties.


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