The European Bank for Reconstruction and Development (EBRD) is lending US$20 million to Özyeğin University to finance a new student dormitory on its campus in Istanbul’s Çekmeköy district, as announced in an official statement published by the Bank.
The project will deliver accommodation for around 500 students, built to modern earthquake-resilience and energy-efficiency standards — a combination that is far from guaranteed in a city where much of the existing housing stock falls short on both. For Özyeğin University, one of Türkiye’s leading non-profit higher education institutions serving over 8,000 students, it is a significant expansion of campus life.
Istanbul is home to roughly 908,000 undergraduate students — nearly a quarter of Türkiye’s national total — yet dormitory capacity covers less than 20% of demand. Rising rents, ageing buildings, and chronic shortages have left many students choosing between long commutes, unaffordable housing, or older structures never built to withstand a major earthquake.
The new dormitory will include 120 studio rooms offered at rates comparable to private rental prices. EBRD President Odile Renaud-Basso called the investment a direct response to where the need is greatest, while Özyeğin University President Prof. Barış Tan described it as part of the institution’s broader commitment to sustainability and resilience. The building is expected to achieve an EDGE “Standard” green certification after construction.
Istanbul sits on one of the world’s most active seismic fault lines, making earthquake-resilient design not just a technical checkbox but a genuine public safety priority. The EBRD has committed more than €23 billion across 500 projects in Türkiye since 2009 — and this dormitory fits that track record: a practical investment with direct impact on young people’s lives.
