By Joseph muyingo
The acquisition of the former UAP building on Kimathi Avenue by the Ruparelia Group highlights the group’s continued expansion in Kampala’s commercial real estate market, while also reflecting growing investment interest in prime city properties.
The property sits in one of Kampala’s established business corridors, surrounded by financial institutions, government offices, corporate headquarters and other commercial establishments.
For the Ruparelia Group, the acquisition adds another strategic property to its portfolio and strengthens its presence within Kampala’s central business district, where demand for well-located commercial space remains significant.
The transaction also comes at a time when Kampala’s office market is undergoing a gradual transformation. Businesses are increasingly seeking offices with modern amenities, reliable services, sufficient parking, efficient space utilisation and professional property management.
This shift has created pressure on owners of older commercial buildings to upgrade their properties in order to remain competitive.
The future of the Kimathi Avenue property is yet to be publicly outlined, including whether the building will retain its current form, receive major renovations or eventually be redeveloped.
The acquisition therefore represents more than a change in ownership. It points to the broader repositioning of prime properties within Kampala’s CBD as investors seek to unlock greater value from strategically located commercial assets.
For Old Mutual, the transaction is part of the review of its property holdings, while for Ruparelia Group, it presents an opportunity to further consolidate its footprint in one of the capital’s most established commercial zones.
The deal comes against the backdrop of Kampala’s evolving real estate landscape, where established properties are increasingly being repositioned to meet changing expectations from tenants, investors and businesses.
