Kampala, Uganda: Tycoon John Bosco Muwonge, popularly known as Ntere Nfune, has demolished Mukwano Arcade just two months after acquiring it for a whopping Shs250 billion from the Mukwano Group of Companies, raising speculation about his next big project in downtown Kampala.
The commercial building, located on Ben Kiwanuka Street, was a trading hotspot for hundreds of city traders. Its sudden demolition has left many wondering what the city mogul plans to put up in its place.
Insiders hint that Muwonge is preparing to replace the arcade with a modern high-rise development in line with Kampala’s rapidly evolving property market.
Muwonge’s real estate empire already stretches across nearly every prime street in the central business district, including Nabugabo, William, Luwum, Ben Kiwanuka, and Kisekka streets.
His aggressive expansion strategy has positioned him among Uganda’s most powerful property moguls, rivaling the likes of Dr. Sudhir Ruparelia, whose skyline-defining towers, such as Kingdom Kampala and Speke Apartments, have become benchmarks for high-value developments.
Unlike Sudhir, who often focuses on mixed-use luxury complexes, Muwonge’s model has been rooted in strategic acquisitions of city arcades, redeveloping them into denser, higher-yield commercial properties.
Property analysts suggest that by demolishing Mukwano Arcade so quickly after purchase, Muwonge could be seeking to maximize the site’s potential through a multi-storey shopping complex, office space, or even a mixed-use hub, a trend that has defined Kampala’s real estate shift in recent years.
Traders displaced by the demolition are keenly awaiting clarity on resettlement or opportunities in the new development, a move that is seen as a sign that Kampala’s commercial property market is entering another phase of high-rise transformation driven by tycoons with long-term stakes in urban real estate.
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