Property Magnate Sudhir Ruparelia has added to his real estate empire after purchasing Lotis Towers, a multi-million dollar building in Kampala from Dfcu Bank.
Sudhir sent a memo to the building’s tenants on May 2, informing them that he had acquired the building though a public auction by DFCU Bank Ltd through its auctioneers Jubilee Auctioneers.
“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 reads in part.
“Therefore, all your dealings will be with the new landlord,” he added.
“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,” Sudhir emphasised.
“Furthermore, irrevocably all rent and/or any arrears should be paid to your new landlords on the following Bank account details only (No cash payment allowed).”
The building was previously owned by business man Samuel Lotigo.
DFCU’s wrote to the clients on May 3, informing them of the development.
“Please note that the above property was pursuant to a mortgage by M/S Lotigo Properties Ltd in favour of DFCU Bank Limited sold to Mr. Sudhir Ruparelia and Mrs Jyostna Ruparelia,” the DFCU letter read.
“We hereby accordingly inform you that the said property now belongs to the purchasers and all rental payments should be made in their favour,” read the letter signed Anthony Magezi the Head of Collections and Recoveries and Muhammad K. Ssenoga the Legal Manager.
The building was constructed by Roko and commissioned in 2019.
