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Key Points
- IUIU opens new Engineering Faculty funded by Islamic Development Bank loan, offering programs in civil, mechanical, electrical, and computer engineering.
- Project includes 500-bed hostel to ease student housing shortages and support expanding enrollment at the university.
- Sudhir Ruparelia hails project’s impact on regional education; IUIU calls it a key step toward becoming a science and tech hub.
Sudhir Ruparelia, Uganda’s richest man and East Africa’s first billionaire, has officially handed over a newly completed multi-million-dollar faculty complex and a 500-bed student hostel to the Islamic University in Uganda (IUIU).
The project, delivered by Vcon Construction, the construction arm of the Ruparelia Group, was reportedly completed in just under two years. While the final cost is yet to be confirmed by Billionaires.Africa, estimates put it at around Ush48 billion ($13.5 million).
New IUIU complex boosts STEM access
Funded through a loan from the Islamic Development Bank and backed by the Ugandan government, the new facility houses IUIU’s Faculty of Engineering, offering programs in civil, mechanical, electrical, and computer engineering.
The project also includes a modern student hostel with capacity for 500 residents, helping to ease accommodation challenges and support a growing student population.
Speaking at the handover, Ruparelia said he was proud to support education in the region, noting the project's importance in expanding access to quality learning. “I’m in education, and I’ve always had a soft spot for projects like this,” he said. “They make a lasting difference.”
IUIU Rector Ismail Simbwa Gyagenda said the new faculty brings the university closer to its goal of becoming a hub for science and technology in the region. He thanked Vcon Construction for its efficiency and commitment, calling the timely delivery of the project “a major milestone.”
Legacy and loss in Ruparelia dynasty
For more than four decades, Sudhir Ruparelia has played a central role in shaping Uganda’s private sector. With interests spanning banking, real estate, education, and agriculture, his influence is visible across the country.
Ruparelia had a net worth of over $1.1 billion in 2014. In 2015, his fortune was estimated at $800 million, and even in 2025, he continued to make bold business decisions, including acquiring the prominent Lotis Towers in Kampala, further expanding his real estate footprint.
But this year has also brought personal loss. In May, the Ruparelia family lost Rajiv Ruparelia, Sudhir’s only son and heir apparent to the family business. Rajiv had been widely seen as the future of the group, a new-generation leader committed to innovation and national development.
