Kampala Business Mogul and Real estate magnate Dr Sudhir Ruparelia has renamed his newly acquired Lotis Towers after his granddaughter Arie.
The 14-storied upscale building, now called Arie Towers hosts various businesses including British American Tobacco (BAT), Cairo Bank, multiple law firms, and other companies.
This website reported last week how the businessman recently acquired the prime multi-million dollar property, situated at plot 16 Mackinnon Road in the city centre through a public auction by dfcu Bank.
This acquisition, completed last week, was publicly announced by both Sudhir and the seller, DFCU Bank Limited, presenting a significant transition in the city’s business landscape.
In a formal communication to all tenants, Sudhir Ruparelia, along with his wife, confirmed the property’s acquisition through a public auction facilitated by DFCU Bank Ltd.
The letter stressed that all future dealings related to the property should be directed to the new landlords and urged tenants to regularize their tenancy agreements with the updated ownership information.
Simultaneously, DFCU Bank Ltd issued a letter confirming the sale of the property as per a mortgage by Lotigo Properties Ltd.
The communication reiterated the change in ownership and requested tenants’ cooperation with the new landlords to ensure a smooth transition.
The renaming of Lotis to Arie Towers marks a new chapter for the property, which has been a prominent fixture in Kampala’s business district.
The Biollionaire’s decision to rebrand the building, (now managed by Meera Investments Ltd, a subsidiary of Sudhir’s Ruparelia Group) reflects his vision for the property’s future and his commitment to making a mark in the city’s real estate landscape.
The change in ownership marks a new chapter for this iconic structure, which has long been a centre for business activities and entrepreneurship in Kampala.
Arie Towers, with its prime location and symbolic importance in Kampala’s urban landscape, continues to be a focal point for commercial activities and economic development.
With the new name, Arie Towers, Sudhir aims to reposition the building as a hub for business and commerce, offering a prime location for companies and organizations operating in Kampala.