Ruparelia Group, through Meera Investments Limited, its property development arm has commenced the construction of One-10 Apartments, its one-of-a-kind luxury for-sale homes project in Kololo, an upscale neighbourhood in Kampala, Uganda’s capital city. One-10 Apartments according to the developers, offers 156 units⏤ including 143 one, two, three and four-bedroom apartments and 13 three, four, five and six-bedroom penthouses. The project was recently redesigned and upgraded from the initial 110 apartments to 156 units and expanded to 17 storeys. Kololo— Kampala’s Most Vibrant Location One-10 Apartments is located in Kololo on Prince Charles Drive – a leafy affluent and diplomatic zone…
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The High Court’s Commercial Court has declined and dismissed an application by Simbamanyo Estates Limited, and its owner, Architect Peter Kamya to temporarily halt the transfer of two properties mortgaged by Equity Bank to recover USD10.8 million that the former borrowed and failed to repay. The application for temporary injunction- Miscellaneous Application No. 1611 of 2021 arises from Civil Suit No. 0464 of 2021 in which Simbamanyo Estates Limited and its proprietor Peter Kamya jointly sued Meera Investments Limited, Luwaluwa Investments Limited, The Commissioner Land Registration and Equity Bank Uganda Limited seeking, a declaration that the sale by mortgagee of…
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Architect Peter Kamya’s chances of ever winning back his foreclosed Simbamanyo House appear to be getting dimmer and dimmer every day. Hardly days after the proprietor of Simbamanyo Estates Limited appealed to court to reverse the foreclosure of Simbamanyo Estates and Afrique Suites Hotel, information has surfaced suggesting that he never paid appropriate legal fees in both the main case and the appeal. Walusimbi & Co. Advocates, the lawyers representing Meera Investments in the multibillion property row have written to the Deputy Registrar of the High Court asking the court to examine allegations that Simbamanyo Estates and proprietor Peter Kamya…
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The Commercial Court in Kampala has ordered Simbamanyo Estates Limited and proprietor Peter Kamya to pay UGX1. 3 billion worth of legal costs to Equity Bank Uganda and two other companies. Court documents seen by CEO East Africa Magazine indicated that court registrar Elias Kisawuzi ordered Simbamanyo and Kamya to pay UGX600 million to Equity Bank, UGX300 million to Meera Investments Limited and UGX300 million to Luwaluwa Investments Limited. Consequently, court also dismissed six cases earlier filed by Simbamanyo Estates and Peter Kamya. The two wanted the sale and transfer of Simbamanyo House and Afique Suites, cancelled by court. In…
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Last week a letter from President Yoweri Kaguta Museveni directing the Bank of Uganda Governor, Prof. Emmanuel Tumusiime Mutebile, to investigate the foreclosing of properties, belonging to Architect Peter Kamya of Simbamanyo Estates Ltd surfaced on social media. In the 3rd September 2021 letter (Reference No. PO/19), titled “Claims Of Illegal Sale Of Simbamanyo House And Afrique Suites”, the President informs the Governor that Mr. Peter Kamya and Dr. Margaret Muganwa, his wife, had appealed to him to intervene in the matters regarding the sale of his Sibamanyo House and Afrique Suites by Equity Bank. “They (Mr & Mrs Kamya)…
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High Court Judge, Hon. Lady Justice Susan Abinyo has today, dismissed an appeal by businessman, Peter Kamya and his Simbamanyo Estates to overturn the foreclosure of his properties by Equity Bank Uganda Limited, yet again. This time court dismissed his application over his lawyers’ failure to present written instructions to represent the businessman, as is required by law. As a result, the court dismissed Miscellaneous Application No. 224 of 2021 that sought to stop the October 2020 sale. “For the aforementioned reasons, this appeal is struck out with the following orders: Miscellaneous Appeal No. 3 of 2021 for setting aside…
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Meera Investments Limited, the property development arm of the Ruparelia Group, this month broke ground for the construction of Tower 1, a 12-storied retail and office property, in Kitante, in the Heart of Kampala. 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. The tower was designed by Symbion Uganda Limited, one the region’s…
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For the last six years or so, siblings, Rajiv Ruparelia and Sheenah Ruparelia have spent time under the tutelage of their property mogul and billionaire father, Dr Sudhir Ruparelia. After his Bachelor of Business Administration degree at Regent’s University, London, where he majored in Financial Management, Rajiv returned home in 2014, to take up a variety of roles within the Ruparelia Group. In 2017 he was elevated to the Group Managing Director role- where he is in charge of the Group 28 businesses and over 8,000 people. Sheena, too, after completing her Economics and Accounting degree at the City University,…
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Kampala Associated Advocates, the law firm representing Dr. Sudhir Ruparelia, has dismissed as “inaccurate and false,” the contents of a media statement made by Bank of Uganda regarding its intended appeal against their two-time loss to Dr. Sudhir, most recently in the Court of Appeal. On Tuesday, June 23rd, 2020, three Court of Appeal Justices, Alphonse Owiny Dollo; Cheborion Barishaki and Stephen Musota unanimously dismissed all the nine (9) appeal grounds on which Bank of Uganda through Crane Bank (In Receivership) had sought to overturn an earlier August 26th, 2019 ruling by Commercial Court Judge, Hon Mr. Justice David K….
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City Mogul, Sudhir Ruparelia of the Ruparelia Group is in up mood having defeated Bank of Uganda’s attempt to take over properties formerly housing the defunct Crane Bank. Sudhir has since 2017 been fighting a protracted legal battle over claims that he withdrew over UGX397 billion to construct the 48 branches. On 20th October 2016 the Bank of Uganda took over management of Crane Bank as per the Financial Institution ACT 2004. The bank was later placed under receivership as per section 94 of the Financial Institutions Act.From then, Crane Bank was conducting banking services but under the management and…
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