By Andrew Visper firstname.lastname@example.org
Forbes Africa ranking number one tycoon property mogul Dr. Sudhir Ruparelia has stated that the future of real estate sector looks bright as oil production soon knocks door reffed as a national cake.
Sudhir who was speaking to this website, www.pressug.com about his view on the year 2019 for the property sector, Said it was quite a challenging year.
“2019 has been a slow year and a difficult year, the economy all over the world are slowing down and Uganda isn’t an exception, so try to bite only what you can chew, don’t put a very big piece of meat and you choke, means that just manage to grow what you can afford to grow” Said Dr Sudhir.
Asked about his 2020 outlook for the real estate sector, Sudhir said unless Uganda finalizes final investment decisions in the oil sector, the situation will remain the same.
“Once oil production agreements are signed, we shall start climbing up,” he said.
Although it has been a difficult year as described by Sudhir, the tycoon’s Ruparelia Group completed a number of multi-billion buildings in Kampala.
For example, in May this year the Group opened Shs1.2 trillion Kingdom Kampala Mall. This was followed by the official launch of fancy Speke Apartments located in Kitante, a Kampala suburb.
Additionally, in September, Ruparelia Group officially launched Shs36bn Electrical Plaza that is located in Nakasero.
In a 2016 interview, Sudhir revealed that he had “more than 300 titles of land in my closet and still counting.”
For example, he said, he had more than 14 buildings along Kampala Road alone.
This has since grown considering the fact that he has been opening more new buildings in Kampala and the surrounding areas.