Lotis Towers undergo name change as Ugandan multimillionaire assumes ownership
Ugandan multimillionaire Sudhir Ruparelia has renamed Lotis Towers, a prestigious multimillion-dollar property in Kampala, to Arie Towers. The move follows his acquisition of the building through a bank auction, solidifying his position as a key player in the region’s real estate sector.
The 14-story upscale building, located at plot 16 Mackinnon Road, Nakasero, was previously owned by Samuel Lotigo. Ruparelia, the co-founder of The Ruparelia Group, acquired the property from the Development Finance Company of Uganda (dfcu) Bank in a strategic rebranding effort.
“Arie Towers” reflects Ruparelia’s vision to reposition the building as a hub for business and commerce. The renaming marks a new chapter for Kampala’s business district. Tenants like the Judicial Service Commission, Cairo Bank International, British American Tobacco, and the Democratic Governance Facility (DGF) have been informed of the ownership change.
Ruparelia confirms acquisition, informs tenants
In a May 2 memo, Ruparelia informed tenants of the acquisition. The memo confirmed the sale of the property by dfcu through Jubilee Auctioneers. Ruparelia emphasized that all future dealings regarding the property should be directed to him.
Sudhir Ruparelia’s expanding empire
A self-made billionaire, Ruparelia first gained recognition in 2012 when he became East Africa’s first billionaire with a net worth exceeding $1.1 billion.
Now 68, he continues to expand his business empire, which encompasses hotels, country clubs, and over 200 commercial properties.
The Ruparelia Group, under his leadership, has diversified into education, real estate development and management, hospitality, floriculture, and broadcasting.
Ruparelia’s success story began in 1985 after returning to Uganda from the United Kingdom. Through Meera Investments, Ruparelia has played a significant role in shaping Uganda’s real estate landscape, earning a reputation for innovation and excellence in the sector.