Cham Towers repairs to cost $16m
Sep 28, 2005
THE renovation of former Uganda Commercial Bank (UCB) Towers on Kampala Road, now renamed Cham Towers has cost $8m (sh14b), Karim Hirji, the proprietor, said this week.
By Joshua Lubandi
THE renovation of former Uganda Commercial Bank (UCB) Towers on Kampala Road, now renamed Cham Towers has cost $8m (sh14b), Karim Hirji, the proprietor, said this week.
“We have so far spent about $8m on the down part and we expect this to double when we finish the whole building,†Karim said in a phone interview on Tuesday.
He said the rehabilitation of the ground and first floors was finished.
He said constructors were now working on the upper floor of the building.
The 16-storey building, with 15,400 square metrers of commercial space was one of the 65 former UCB branches sold by the Government to Stanbic Bank of South Africa.
Karim said the ground part of the building would have auxiliary shops and the upstairs would be used for offices.
“The offices will have all facilities including air conditioners, fire extinguishers and insurance,†Karim said.
He said Stanbic Bank and other companies currently operating on the building would remain there after the renovation, which he said would be completed by April 2006.
Karim is a renown Kampala businessman with a string of properties.
THE renovation of former Uganda Commercial Bank (UCB) Towers on Kampala Road, now renamed Cham Towers has cost $8m (sh14b), Karim Hirji, the proprietor, said this week.
“We have so far spent about $8m on the down part and we expect this to double when we finish the whole building,†Karim said in a phone interview on Tuesday.
He said the rehabilitation of the ground and first floors was finished.
He said constructors were now working on the upper floor of the building.
The 16-storey building, with 15,400 square metrers of commercial space was one of the 65 former UCB branches sold by the Government to Stanbic Bank of South Africa.
Karim said the ground part of the building would have auxiliary shops and the upstairs would be used for offices.
“The offices will have all facilities including air conditioners, fire extinguishers and insurance,†Karim said.
He said Stanbic Bank and other companies currently operating on the building would remain there after the renovation, which he said would be completed by April 2006.
Karim is a renown Kampala businessman with a string of properties.