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Dr Sudhir Ruparelia and his wife Jyotsna Ruparelia- the billionaire couple have extended their leadership in Uganda’s real estate space with their recent acquisition of Lotis Towers in Kampala’s upscale leafy Nakasero area. The building features 5,535 sqm of lettable space. Total built up space is 8,000 sqm. “The design is a modern office facility with naturally lit and contemporary corporate environments, a generous lobby, spacious penthouse floor, and an enhanced landscape,” according to Symbion, the architects. The acquisition followed a foreclosure sale by dfcu Bank after the building’s owners Lotigo Properties Limited and M/S Ropani International Limited failed to…
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On October 24th 2023 the High Court in Kampala ruled that dfcu Bank illegally transferred to itself, 48 properties that Crane Bank had leased from Meera Investments before the seizure. Meera belongs to Dr. Sudhir Ruparelia, Crane Bank’s second-largest shareholder at the time. Court has now ordered dfcu to pay UGX2.4 billion to Meera Investments over and above repairing and restoring all the 48 properties into tenantable position. But that’s not all, the Bank of Uganda has since lost the Court battle against the businessman and is now facing hundreds of billions in costs and damages, and the entire transaction…
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To cater for the high demand for grade-A offices in the prime Kampala Kololo neighbourhood, Meera Investments Limited (MIL), one of Uganda’s largest Real Estate Developers, has put yet another property⏤ Windsor House, on the market. MIL is the property development arm of the Ruparelia Group, which “provides premium management solutions while delivering high-quality quality affordable and sustainable office, retail, industrial and residential Real Estate infrastructure”. The Windsor House is a high-tech, sustainable and mixed-use property. The Windsor House will offer commercial, facilities within an A-grade office facility spread over 5,022.7sqm, broken down into 4 elegant office floors, within an…
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Meera Investments Limited has commenced construction of their long-awaited One-10 Apartments project, promising, nothing but smooth luxury living, at Kampala’s most vibrant location! With Panoramic views of Kampala, One-10 Apartments is perfectly located in the exclusive suburb of Kololo, the most sought-after hill in Kampala. The project, described as one-of-a-kind by its developers, offers a total of 156 luxury apartments spread across 15 floors (includes 2 basement floors for parking) along Prince Charles Drive in Kololo. The 156 apartments are split into configurations of one, two, three and four-bedroom apartments. The two-bedroom apartments come in four different sizes i.e., 123…
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City tycoon Dr. Sudhir Ruparelia has commended President Yoweri Museveni for signing the Landlord and Tenant Bill into law, saying that the law protects both tenants and landlords. “The tenants will now know their rights. It will reduce the court cases between the two parties,” he said. Dr. Sudhir Ruparelia’s Meera Investments Limited is Uganda’s largest property developer with over 300 commercial, retail, industrial and residential properties, largely in Kampala. On Wednesday, Speaker of Parliament Anita Among confirmed that the President had assented to the Landlord and Tenants Bill 2021 after a meeting at State House in Entebbe. “Fellow Countrymen…
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The first phase of the construction of Ruparelia Group’s Pearl Business Park, is well underway, with structural works on Tower 1, an 18-storied retail and office property, now on the 6th floor. Tower 1 is the first of 10 office towers, to be erected at Plot 1, Yusuf Lule Road, at what will be known as The Pearl Business Park- an 18-acre mixed-use park, with a 5-star hotel, a shopping mall and a modern hospital when it is completed. The development will be Ruparelia Group’s largest. “Work is progressing smoothly, and we are now on the 6th of 18 floors,”…
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The sub-committee of the Parliamentary Committee on Commissions, Statutory Authorities and State Enterprises (COSASE) has exonerated property mogul Sudhir Ruparelia after its probe found that he genuinely owns the Plot 24, Kampala road. The Departed Asians Properties Custodian Board (DAPCB) had in July 2019 told the probe sub-committee chaired by Makindye East MP Ibrahim Kasozi that tycoon Sudhir’s property was never reposed by the original proprietors before selling it to him. But, in its report to Parliament that is set to be presented and adopted today, the probe sub-committee listed the country’s money magnet as the rightful owner of the…
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Meera Investments Limited (MIL), Uganda’s largest property owner and developer has completed Tagore Living Project, putting 28 modern and urban homes on the market. The project, is MIL’s first built-to-sell residential development project, aimed at “creating an opportunity for both Ugandans and foreigners to invest and own property in Uganda, for either residential or investment purposes.” Meera owns over 300 for-rent properties in Kampala and other major towns like Mukono, Jinja, Mbale and Mbarara. The company also owns the largest number of ongoing real estate projects and is the largest private owner of commercial land in Kampala. Tagore Living apartments…
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Sudhir Ruparelia, under Meera Investments Limited – an investment arm of the Ruparelia Group of Companies, is the new owner of Simbamanyo House on Plot 2 Lumumba Avenue, home to Ministry of Gender, Labour and Social Development. Meera Investments acquired the building through an auction put up by Equity bank in order to recover an unpaid loan amounting to US$8.1 million (UGX30 billion) Equity Bank and Simbamanyo Estates have been embroiled in a court battle over the building for a long time now after the later failed to clear a loan with the bank. CL Risk Management Services, who auctioned…
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A group of youths under the Poor Youth Network have petitioned the President Yoweri Museveni over what they have termed as ‘excessive legal fees payments’ in court case between the Bank of Uganda and former shareholders of Crane Bank Limited (under receivership). In the petition, Ssempala Zahid, the national spokesperson for Poor Youth Movement copied to the World Bank, the Speaker of Parliament, and IMF among others, calls for the president’s intervention into the matter so that the case is settled outside court to save the tax payers money. “We are writing to inform you that, on 23rd June 2020,…
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