Church of Uganda sold assets to build Church House in city

From Uganda-

The Church of Uganda sold part of its assets to city businessman Sudhir Ruparelia and other entities in order to raise 30 per cent of the capital needed to build the multi-storey Church House building in Kampala.

According to a report that was handed to the Anglican Bishops during the bi-annual House of Bishops Provincial Assembly that convened at Uganda Christian University in Mukono last week, the Church sold the land on which Mr Ruparelia’s exclusive Kabira Country Club sits for Shs6.75 billion. The businessman still has to pay Shs450 million.

Sold property
Other lucrative pieces of real estate that have been sold include Ndejje University (Shs1.1 billion), the area occupied by Bukoto Market (Shs780 million), land in the upscale city suburb of Buziga (Shs1.7 billion), other land in Bugolobi (Shs600 million), land in Bukedi Diocese in Busia (Shs450 million) and 66 acres on Wamala Road sold at Shs2 billion.

In all, the Church will be able to raise at least Shs6 billion which, in addition to Mr Sudhir’s money, is more than 30 per cent of the Shs40.75 billion that was budgeted for the completion of the 15-storey building located at the junction of Kampala Road and Dastur Street in the central business district.

More here-

http://www.monitor.co.ug/News/National/Church+of+Uganda+sold+assets+to+build+Church+House+in+city/-/688334/1487632/-/inn0yr/-/index.html