News Details

Media Alert Details

• Event: Official Opening of The Lab Student Accommodation
• Date: Tuesday, 14 October 2025
• Location: Braamfontein, Johannesburg

PRASA, through Intersite Asset Investments, officially launched The Lab, a modern 12-storey, 700-bed student accommodation facility, redeveloped from an underutilised PRASA-owned office building. The project is a co-development between Intersite and Elevated Fund and forms part of PRASA’s secondary mandate to generate revenue from non-rail assets to support sustainable rail operations.

The opening was attended by the PRASA and Intersite Boards, alongside the Executive Mayor of Johannesburg, Cllr Dada Morero, highlighting strong collaboration between public and private sectors in advancing inner-city regeneration. The building is strategically located near Johannesburg’s integrated public transport network and the Park Station retail precinct, improving accessibility and mobility for students.

The Lab provides safe, affordable, and dignified accommodation, with amenities including computer rooms, study spaces, rooftop sports facilities, gym, laundry services, biometric access, 24-hour security, CCTV, and transport support. Having commenced operations in the second semester of 2025, the facility currently houses over 500 students and is expected to reach full capacity of 700 NSFAS-accredited students by the January 2026 academic intake.

This development supports PRASA’s Rail + Property Strategy, which targets revenue growth to R2.5 billion by 2035, underpinned by Intersite’s focus on property development, co-investment, station precinct modernisation, renewable energy, and fibre-optic initiatives – demonstrating how state-owned entities can deliver both commercial returns and public value.