INTERSITE PROPERTY MANAGEMENT (PTY) LTD
Management in Sandton

We’re committed to creating the kind of growth that will lead to an even better experience for every passenger using any of PRASA’s public transport solutions. Think more efficient services on more routes and world-class facilities. This enabled Intersite’s role to change from managing PRASA’s property portfolio to becoming an investment company for the Group: Intersite Asset Investments (SOC) Ltd. The main aim of PRASA’s balance sheet restructuring programme was to recapitalise the company and generate cash needed to finance strategic short-term income-generating projects. The programme allowed PRASA to re-value key assets and find the most appropriate location in Intersite. PRASA CRES’s new mandate includes the following key areas: facilities management, real estate strategy and asset management, as well as project and development management. Intersite is responsible for property and asset development, and to drive the commercialization of select and approved PRASA assets including through facilitating for private sector investment in PRASA’s assets. Our objective is to provide property and asset investment solutions to PRASA through a range of innovative and entrepreneurial solutions and to undertake project services to third parties to enable PRASA and Intersite to derive maximum economic and financial benefit. The Intersite business is specifically targeted at leveraging the PRASA assets to produce additional revenue for PRASA. The critical success factors include, amongst others, the adoption of a sound commercial approach to property development and asset investments. Intersite undertakes project services for third party clients as an implementing agent for transport related projects particularly related to intermodal facilities, mainly undertaken by various Government Departments. Intersite is poised to partner with Government to assist Government in service delivery, through ensuring the successful implementation and exploitation of certain build programmes relating to intermodal facilities. PRASA’s R11 billion investment in transport and infrastructure over recent years resulted in a marked improvement in train and bus services. However, the inability of the government subsidy to keep up with the ever-increasing cost of providing quality public transport services forced PRASA to come up with a new, innovative way of supplementing its funding; enter Intersite. With the emphasis on partnerships that create value, we leverage PRASA’s non-operational and non-strategic assets to raise additional funds that will result in a real improvement in services. With over 400 stations and vast tracts of land in prime positions around the country, PRASA owns some of the most promising developmental rights in South Africa. We’re always on the lookout for innovative deals to develop these opportunities, with an emphasis on partnering with local companies and authorities to stimulate growth through job creation, particularly in smaller towns. With extensive experience in mixed-use developments of all types, we help develop and manage transit-orientated developments on behalf of our provincial and local government clients, creating integrated developments, particularly around our intermodal transport hubs. As always, our goal is to add real value to the lives of public transport users. We provide access to advertising spaces in prime locations. From train and bus stations and commercial buildings to ad space on buses and trains, we generate income from ad sales.