SHOCK; Tycoon Bitature indebted, set to lose Skyz Hotel and Apartments put under Public Auction

Surely there is no one that will not feel the  effects of Covid 19 Pandemic that hit the globe and changed everything economically.

As we speak, Tycoon Patrick Bitature could lose three of his multi-billion properties including Skyz Hotel Naguru under his Simba Telecom Limited.

Quickway Auctioneers and Court Bailiffs have given Bitature’s Simba Properties Investment Company Limited Under which the three properties owned are registered only 30 days to clear the loans or watch as the properties auctioned or sold by private treaty.

The bailiffs say they have been given orders by M/S Kirunda and Wasige Advocates on behalf of the financial institution that lent Bitature’s company money.

The properties set to be sold include Elizabeth Royal Apartment located on plot 32 Elizabeth Avenue Kololo, Protea Hotel ( SKYZ Hotel) Naguru and Moyo Close Apartments on plot 13 Moyo close.

A senior bailiff we talked to reveals that the above notice doesn’t necessarily mean  the  sale of these properties. And doesn’t  mean that Bitature is becoming  a  serious  Debtor. Tourism sector was badly hit by Covid 19 lockdown globally Even other hotel owners are dying  of  stress and pressure. Let’s  pray for him to come out of this-he reveals.

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