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 settle their obligations with the bank.
Dr Sudhir Ruparelia and his wife Jyotsna Ruparelia, through their real estate company- Meera Investments Limited are already Uganda’s largest developers and owners of medium to high-end hospitality retail, office, industrial and residential real estate. Meera Investments is part of the Ruparelia Group, Uganda’s largest multi-sector conglomerate with interests in financial services, real estate, education services, hospitality, agriculture and media/broadcasting.
Started in 1994, Meera Investments has over 300 properties in Kampala and surrounding areas. It is the largest provider of working and living space solutions. Its commercial spaces command a sizeable footfall/traffic of up to 200,000 people in Kampala daily⏤ an equivalent of the 5% of Kampala’s day-time population.
Over the last 10 years, the company has been behind some of Kampala’s iconic projects that have redefined both the city’s skyline as well as real estate markets. These include Kingdom Kampala Mall― a 22,000m2 and 10 floors of Grade A retail and office space as well as the USD10 million Electrical Plaza that is made up of 220 shops, 56 apartments and 2 floors of parking. In the hospitality space, Speke Group of Hotels has a total of 13 Resorts, Hotels and Apartments, altogether providing more than 900 modern rooms and 45 State of Art Conference rooms and meetings, award-winning restaurants and bars, health clubs and spas, and recreation and leisure facilities.
The Group, over the last few years, has added some iconic properties to their stable such as the Speke Apartments Wampewo- a collection of 144 modern, tastefully furnished Apartments as well as Speke Apartments, Kitante- 83 equally well-appointed apartments. The group also added Bukoto Heights- 97 modern and premium apartments.
The company also has several other under-development projects such as the 30,000 sqm Pearl Business Park on Plot 1, Yusuf Lule Road and One-10 Apartments, a high-end development of 156 luxury apartments. Also under development is the 360 high-end serviced apartments at Kabira Country Club.