Tycoon Sudhir Acquires Lotis Towers in Auction Takeover

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Real estate tycoon Sudhir Ruparelia has made a significant acquisition in Kampala, purchasing Lotis Towers, a prestigious building located at plot 16 MacKinnon road, Nakasero.

The 14-story structure, valued in the millions, was procured through dfcu Bank in an auction. Sudhir confirmed the purchase, noting the building’s extended period on the market.

“It is true I bought it after an auction. The building has been on the market for a long time,” he told this website.

On May 2, 2024, tenants were informed of the change in ownership. Sudhir’s attorneys issued a notice stating that the property had been sold to Sudhir and Jyotsna Ruparelia following a public auction by DFCU Bank Ltd.

“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,” his attorneys said in a notice to the tenants.

Tenants were instructed to update their tenancy agreements with the new landlords and directed to make all rental payments to them.

“Therefore, all your dealings will be with the new landlord. Accordingly, please ensure that you submit all your current signed tenancy agreements with proof of payment made up-to-date in order to regularise the tenancy agreement with the new landlords,” the attorneys further instructed adding;-

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

The acquisition marks a transition from its previous owner, real estate mogul Samuel Lotigo, who faced financial difficulties with creditors.

Lotis Towers is home to several prominent firms in Kampala, including Cairo Bank, British American Tobacco (BAT), and the Judicial Service Commission (JSC).

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