When you walk through Kampala, almost half of the major buildings in the city center belong to Drake Lubega but who is he? Here we show you all his property, net worth and who he really is.
According to our sources, Drake Lubega is one of the biggest property owners, not only in Kampala but across Uganda.
Businessman Drake Lubega has amassed wealth and his valued at over UGx 1 Trillion over the years and his empire is still growing with his net worth expanding.
In Kampala alone, Drake Lubega owns various buildings especially rented to business owners and to almost everyone that works in the city.
Below is a List of some of the known Properties of Drake Lubega:
- Majestic Plaza
- Jesco Plaza (located at formerly DV8).
- Astoria Plaza (next to former Barclays Luwum Street).
- Titanic Building at Johnson street
- Energy Center
- Jesco (near Ham grounds).
- Eco Plaza,
- Totale City Plaza
- Qualicell Bus Terminal
- Mini Price (bought from John Sebalamu)
- ESCO Plastics (Katonga)
- City Complex in Kiyembe
- Qualicell on William street
- Jesco in Nabugabo among others.
It must be noted that the buildings are so many that some even share names. For example, he has two buildings under the name Qualicell and three named Jesco. The name Jesco is derived from his Jesco vaseline and Jesco beauty cream.
Qualicell is from the Qualicell drycells where he was a sole distributor in the country for a lengthy period of time. Apart from buildings, Drake Lubega owns
other properties including factories in Ntebetebe, Bweyogerere, numerous warehouses, vast land among other properties. He also owns Elite School in Bwebajja.
It should be remembered that, Lubega revealed why he refused to forgive his tenants rent arrears for the lockdown period.
During his 17th Covid19 address, President Museveni cleared the reopening of 110 arcades that had met the set Standard Operating Procedures (SOPs), by Ministry of Health.
However, Drake Lubega refused to comply saying that some of his tenants had not paid their rent arears.
Even though most of his colleagues who own buildings forgave their tenants rent for two months, Drake insisted that every tenant must pay all his money including the months of lockdown.
It is alleged that he even confiscated their property for failing to pay rent arrears.
While speaking to NBS, Drake said he owns only two building, “I think I own around two buildings but I have bosses who have trusted me and I run their buildings and businesses on their behalf. I’m a dedicated worker.”