- EBRD financing a green-certified earthquake-resilient dormitory project in Istanbul
- Project will address city-wide issue of affordable and safe housing for students
- Accommodation will prioritise well-being of students by providing a safe and academically supportive environment
The European Bank for Reconstruction and Development (EBRD) is providing a US$ 20 million loan to Özyeğin University to support the construction of a new student dormitory at its campus in Istanbul’s Çekmeköy district.
Özyeğin University, which is based in Istanbul, is one of the leading non-profit, state-recognised higher-education institutions in. It offers 71-degree programmes across seven faculties and three graduate institutes, serving over 8,000 students. This project will expand the university’s campus accommodation, with demand across the city continuing to exceed available supply.
Istanbul has the largest student population in Türkiye, with approximately 908,000 undergraduate students – nearly a quarter of the national total. However, the city’s dormitory capacity of around 161,000 beds meets less than 20 per cent of student demand.
Rising rental prices, ageing building stock, and limited availability in both state and private dormitories are making it difficult for students to find safe, reliable housing. Many are forced to accept long commutes or older buildings that are not earthquake-resilient due to affordability constraints.
The new dormitory will help to bridge this gap by delivering accommodation for around 500 students, including 120 studio rooms, providing a modern, secure and academically supportive living environment. The university intends to offer this accommodation at rates comparable to private rental prices, supporting students who would otherwise face high rents or lengthy travel times.
Odile Renaud-Basso, President of the EBRD, said: “Access to safe, affordable and high quality student housing is essential for Türkiye’s future talent. Our partnership with Özyeğin University directly addresses this challenge by building modern campus accommodation where it is needed most. This investment reflects the EBRD’s longstanding commitment to supporting growth and improving opportunities for young people across Türkiye.”
Prof. Barış Tan, President of Özyeğin University, said: “At Özyeğin University, we regard sustainability as a fundamental component of our campus life and physical infrastructure. Our Çekmeköy campus reflects this holistic approach through its energy-efficient buildings designed in line with international green building standards. The new green-certified dormitory investment, which we will realise in collaboration with the EBRD, is a significant part of this comprehensive vision. Through this project, we aim to provide our students with a safe and sustainable living environment while reinforcing our long-term commitment to quality and resilience.”
The project also incorporates contemporary energy-efficiency and resilience standards, including improvements in building performance relative to conventional construction practices. The dormitory building is expected to achieve an EDGE “Standard” rating after construction.
The EBRD is one of Türkiye’s key investors, with more than €23 billion committed through 500 projects and trade finance limits since 2009, largely in the private sector.