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Billionaire Sudhir acquires Lotis Towers from dfcu in auction purchase

Kampala, (UG): Kampala’s Property mogul Dr Sudhir Ruparelia has once again showed why he’s a household name in the Real Estate business after successfully acquiring the city’s multi-million dollar Lotis Towers, in an auction purchase.

The 14-storied upscale building located at plot 16 MacKinnon road, Nakasero, in the country’s capital was sold to the city businessman through dfcu Bank Mr. Sudhir has confirmed that he purchased the building through action.

“It is true I bought it after an auction. The building has been on the market for a long time,” Sudhir told this publication when contacted to confirm the development.

The City Mogul through his attorneys on May 2, 2024, informed tenants of the new arrangements saying; “This serves to communicate that property 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.”

“Therefore, all your dealings will be with the new landlord,” the notice adds.

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The attorneys further instructed the tenants to accordingly ensure that they submit all current signed tenancy agreements with proof of payment made up-to-date in order to regularise the tenancy agreement with the new landlords.

“Furthermore, irrevocably all rent and/or any arrears should be paid to your new landlords (to the Bank … (No cash payment allowed).”

Lotis Tower building was owned by real estate mogul, Samuel Lotigo, who run into trouble with his creditors.

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The building houses some of Kampala top firms including Cairo Bank, the British American Tobacco-BAT and the Judicial Service Commission-JSC.

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