Sudhir Ruparelia has purchased Lotus Towers, a prominent multi-million dollar building located in Kampala.
The 14-storied upscale structure, situated at plot 16 MacKinnon road, Nakasero, garnered attention in 2022 when cracks were discovered, prompting several tenants to vacate the premises.
A report by lawmakers confirmed concerns over the building’s integrity, particularly highlighting a compression failure in the reinforced concrete column on the Sixth Floor, constructed by Roko Company. The National Building Review Board (NBRB) also noted similar signs of failure in several columns within the basement.
Eng. Kenneth Magembe from Armstrong Consulting, the project’s consultants, clarified that out of the 21 columns, only one on the 6th floor and in the basement had minor cracks.
Affected tenants included the Judicial Service Commission-JSC, Cairo Bank International, British American Tobacco-BAT, and the Democratic Governance Facility-DGF.
Sudhir Ruparelia officially informed tenants of his acquisition in a memo dated May 2, 2024.
“This serves to communicate that property comprised 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,” the memo stated.
“Therefore, all your dealings will be with the new landlord,” it added.
Tenants were instructed to submit their current signed tenancy agreements along with proof of payment to regularize agreements with the new landlords. Additionally, rent payments were to be made to Sudhir Ruparelia’s specified bank account.
The acquisition of Lotus Towers by Sudhir Ruparelia raises eyebrows due to the historical rivalry between DFCU and Sudhir, stemming from the acquisition of Crane Bank by the former.
This transaction has been a subject of legal battles for the past five years. The decision by DFCU Bank to accept Sudhir’s bid for the prime property adds an intriguing twist to their contentious relationship.
