A portion of the funky Johannesburg inner city neighbourhood, Maboneng, will go under the hammer on April 15, about nine years after SA’s hosting of the Soccer World Cup brought it into prominence. "Maboneng" or "place of light" was conceived as an urban renewal project by entrepreneur Jonathan Liebmann in the mid-2000s, and attracted investment from major institutions including RMH, which holds a 34% stake in FirstRand, and Nedbank. It has enjoyed significant success by attracting tourists and young professionals to trendy restaurants and bars such as Patta and Lenin Vodka Bar as well as to entertainment spots including The Bioscope and Arts on Main. Propertuity, which was the initial main developer and manager in the precinct, came under financial and operational strain and was taken into liquidation in 2018. That led to the decision to auction off some properties owned by the company, including entire buildings. However, the development is attracting new investors, showing that i...
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