Johannesburg – The Passenger Rail Agency of South Africa (PRASA), through its property subsidiary Intersite,has launched the Lab Building Student Accommodation in Braamfontein.
PRASA said the launch of the Lab Building on Tuesday, 14 October 2025, marked a significant milestone in its efforts to leverage its property portfolio for socio-economic development and sustainable rail operations.
The Lab Building is a modern 700-bed facility that provides affordable and conveniently located housing for students, following the redevelopment of an underused office building owned by PRASA into a vibrant student accommodation hub.
The project is a co-development between Intersite and Elevated Fund.
“Through Intersite, we are reimagining the role of transport-linked properties as catalysts for social and economic progress,” said PRASA Board Chair, Nosizwe Nokwe-Macamo, during her welcome remarks this morning.
“This project embodies that commitment, transforming underutilised buildings into a space that provides safe, affordable, and dignified accommodation for students who represent the future of our country.”
The Lab Building Student Accommodation has created a conducive learning environment for the young people for many years to come, boasting the following amenities:
- Computer Rooms
- Roof Top Sports facility
- Braai and Social areas
- Group and Individual Study Rooms
- Gym
- Laundry facilities
- Biometrics access
- 24-hour security and CCTV
PRASA’s Rail + Property strategy aims to grow revenue to R2.5 billion by 2035.
“These are underpinned by Intersite’s execution in property development, co-investments, lease buybacks, and station precinct modernisation, among other initiatives, for future financial sustainability, renewable energy, and fibre optics to create lucrative revenues for future sustainability,” PRASA said.
