PRASA Corporate Real Estate Solutions (CRES)

The Corporate Real Estate Solutions (CRES) Division was established on the 1st October 2010. This followed the decision by PRASA to terminate the Management Agreement between the former SARCC and Intersite Property Management Services, mandating the latter to manage the Property Portfolio on behalf of the Group. The property portfolio is now being managed internally as a division of PRASA.

Intersite was a wholly-owned subsidiary of PRASA that was created in 1992 to manage and develop its property portfolio, of some 374 rail commuter stations and 4200 hectares of land in Durban, Johannesburg, Cape Town and Pretoria. Intersite formerly specialised in the management and development of State-owned property portfolio. Over the years, the organisation has developed a business model that met the special needs of the public sector, while offering the quality and service-delivery standards synonymous with market-driven businesses.

The specific mandate of PRASA CRES, is strictly about the Management of PRASA’s Property Portfolio (Real Estate Management), Optimisation and Commercialization of Space, Custodian of PRASA Accommodation Policy, Facilities Management, Station Improvement Programme as well as Station Upgrades. PRASA CRES is expected to focus on the Portfolio and not undertake outside work.

The following services are provided by CRES in the execution of its mandate:

• Facilities Management (Cleaning, Repairs and Maintenance, Horticulture).
• Real Estate Asset Management (Leasing, Utilities Management, Portfolio analysis, Land Administration).
• Real Estate Strategy (Long term acquisition and Disposal strategy, Nodal intensification and Corridor densification).
• Project and Development Management (Built Environment Professional Services, Project Management).