Meera Investments owned by Dr. Sudhir Ruparelia has bought off Simbamanyo House from Equity Bank at $5m (Five Million Dollars) or UShs 18.5bn. The deal which came through a competitive bidding saw Meera Investments, one of the Ruparelia Group of Companies become the highest bidder.
Simbamanyo House sits on 0.322 hectares.
Current tenants at Simbamanyo house, include the Ministry of Gender, Labour and Social Development. Simbamanyo house is located on Plot 2 Lumumba Avenue and overlooks Rwenzori House and the Danish Embassy.
Peter Kamya, the former owner is a seasoned architect who is also the proprietor of Associated Architects and Simbamanyo Estate Limited. Kamya lost this property along with Afrique Suites hotel, located on block 237 plot 95 at Mutungo and Luzira measuring about 0.85 hectares. It followed failure to clear loans advanced by Equity Bank Uganda and Equity Bank Kenya.
Equity Bank subsequently wrote to tenants at Simbamanyo house, about the matter:
