Dr. Sudhir Ruparelia who is one of the wealthiest business men in Africa has yet again expanded his investment in Uganda by venturing into the hardware and construction sector. The business man under Crane Management Limited on Monday unveiled a high standard commercial building in the centre city called Hardware City.
The one-stop construction centre is located on Entebbe Road and was constructed to accommodate traders dealing in hardware products and services used in the construction industry at a cost of Cost of $25m
The mogul, who is Chairman of the Ruparelia Group of companies, is already impacting positively impacting in the lively woods of many Ugandans after previously investing massively in the Banking, Insurance, Finance, Real estate, Hospitality, Education, Floriculture, Media and entertainment sectors among others.
While officiating at the grand opening of the multi-million building, Sudhir was in high spirits and encouraged traders and business partners to take advantage of the facility by renting the strategic and affordable units where rent is charged in shillings unlike other landlords who charge in dollars.
“I want to thank our customers and prospective customers, service providers and employees for being part of this project. When starting to work on this project, what we had in mind was to provide a one stop center that offers hardware products and services for construction. This would help customers to buy everything in one place. We wanted to create a situation where a customer does not need to move from one place to another looking for hardware goods or services.” Sudhir said.
The building which is now the biggest in downtown Kampala has 281 shops, 66 apartments ready to be occupied with a spacious parking lot able to accommodate upto 800 cars. The new state-of-art building sits on about 27000 square meters and was built in 18 months. Every square meter is able to withstand weight of 650kgs which can accommodate heavy building and construction equipment and materials.
“Since it is a new building, we are not going to increase monthly rent charges for the next two years. Read your agreements, enjoy the building and also make money out of the building so that you can pay rent. Make good decisions so that you don’t make losses.” Sudhir added
Rajiv Ruparelia, the Managing Director of Crane Management added that, the company has secured a 500kv transformer to directly supply power to the building and minimize power cuts and a three phase distribution line to the building which will get pre-paid sub meters for every tenant. Tenants will verify their bills with the property manager before paying for electricity.