Entrepreneur Jonathan Liebmann says in many ways his vision of Maboneng Precinct in central Johannesburg has been realised and he is not the right person to take the development forward. Instead, RMB Holdings (RMH), which has become Maboneng's main financial backer, is bringing in new management and trying to run the mixed-use asset more efficiently. Liebmann, the real estate developer who has been at the head of Propertuity, the company he built and which developed the area on the eastern fringes of the city's CBD, says he wants to leave after 11 years to pursue other ideas. This follows RMH, which first invested in Propertuity a couple of years ago, having more influence over the company. Some tenants say Liebmann gave them an exciting opportunity to bring a variety of businesses to the inner city but now Maboneng needs a more experienced and larger property management team to gain more traction. Others, who asked not to be named, said the precinct had been a challenge to get goin...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.