KAMPALA, UGANDA: City Tycoon and Property Mogul Dr. Sudhir Ruparelia has renamed his newly acquired Simbamanyo Building to Gender and Labour House.
The change of name comes months after court confirmed Sudhir as the rightful owner of the property following a series of court battles between him, Equity Bank, and the embattled former Simbamanyo owner, Mr. Peter Kamya.
The building located at Plot 2 Lumumba Avenue, now under the management of Meera Investments Ltd, a real estate arm of his Ruparelia Group houses the Ministry of Labor, Gender, and Social Development among other tenants.
Sudhir in October of 2020 acquired the building for Shs18.5b from Equity Bank after the Kamya had failed to service a bank loan. Kamya also lost Afrique Suites in Mutongo that Equity Bank sold to Luwaluwa Investments.
“We are writing to inform you that Equity Bank Uganda Limited, as mortgagee, has completed the sale of land comprised in LRV 2220 folio 3 plot 2, Lumumba Avenue Simbamanyo House, after a public auction concluded on 8 October 2020 to the best-evaluated bidder M/s Meera Investments Ltd, ” said Sam Kirubi, Equity Bank Uganda Managing Director last year when confirming the sale of the property to Businessman Sudhir Ruparelia.
Kamya ran to Court to try to declare the sale of his property illegal, but in late July, he lost an appeal, which was the third time he had ran to court, putting the ownership battle to rest.
Both the High Court and Court of Appeal cleared the acquisition of the top city property by Sudhir’s Meera Investments Ltd and gave him a go-ahead to change its name accordingly.
The building has been renamed Gender & Labour House, to symbolise its major tenants the Ministry of Labour, Gender and Social Development.
Do you have a story or an opinion to share? Email us on: [email protected] Or join the Daily Express WhatsApp channel for all the latest news and trends or join the Telegram Channel for the latest updates.
