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UCB towers for sale on June 14

By Vision Reporter

Added 7th May 2004 03:00 AM

THE Uganda Commercial Bank (UCB) towers, now owned by Stanbic Bank, will be sold on June 14, the Bank’s managing director, Kitili Mbathi

THE Uganda Commercial Bank (UCB) towers, now owned by Stanbic Bank, will be sold on June 14, the Bank’s managing director, Kitili Mbathi

By Felix Osike

THE Uganda Commercial Bank (UCB) towers, now owned by Stanbic Bank, will be sold on June 14, the Bank’s managing director, Kitili Mbathi, has said.
“The building is on sale right now. We have asked people to submit their bids by June 14 and we will sell to the highest bidder,” said Mbathi.

He said the bank would shift its office to the newly-refurbished Cres-ted Towers (short tower) by the end of this month.
He said the Crested Towers office will consolidate both offices formerly at the headquarters and UCB tower.

Mbathi said the main banking hall (City branch) and the Automated Teller Machine (ATM) point at the UCB towers would remain there while another branch would be opened at Crested Towers.
“Our core business is banking not real estate. This is a 16-storey building; our requirement is only five floors. So we would rather sell it to a real estate developer and we would become tenants,” he said recently.

UCB towers for sale on June 14

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