Jomayi sells off Yiga Chambers over debts

By Drone Writer

Kampala leading land dealer Joseph Yiga Magandaazi commonly known as Jomayi, the director  and owner of JOMAYI Property Consultants has sold off his commercial business house Yiga Chambers housing JOMAYI offices at Old Kampala allegedly over debts.

The old Kampala building was reportedly bought by little known Gerald Luyima owner of Vibes Disco and owner of MM Pub at Kabusu which he bought from a broke priest a  few years  ago.

The cover price which Yiga sold from his magnificent building  is not known, but he used part of the money to pay city tycoon Godfrey Kirumira  over 1.8   billions the money Kirumira lent to Yiga in a Kafuna business.

By the time Yiga struggled to pay off the debt, Kirumira was threatening to attach the building over the debt.

Speaking to some close relatives, Yiga confirmed to have paid off Kirumira but fell shot of announcing the total amount he sold off Yiga chambers.

However, by Monday morning, Luyima was seen instructing his builders to change the internal plans of Yiga chambers partitioning it in to shop like rooms as if to turn it into an arcade like building.

Luyima was also receiving money from new tenants who want to start working from the chambers.

It is alleged that Luyima is fully owning the building and is going to make it a commercial plaza.

By press time it was not clear whether JOMAYI Property Consults would shift from  Yiga Chambers as most of the floors it once occupied especially the second, third and fourth floor looked vacant.

The sell off of Yiga Chambers comes at a time when Yiga is embroiled in debts to the extent that NC bank has petitioned court to declare JOMAYI property consultants bankrupt  following JOMAYI’s failure to pay over 800 millions  he owes the bank following a land deal.

Yiga and JOMAYI equally has multiple debts with some land dealers, banks  and city money lenders.