PROJECT

Projects

Summary of Investment Information

Project Number

34009

Company Name

OZYEGIN UNIVERSITESI

Date SPI Disclosed

Aug 2, 2013

Country

Turkiye

Region

Central Asia and Turkiye

Projected Board Date

Sep 6, 2013

Environmental Category

B - Limited

Status

Completed

Last Updated Date

Jun 12, 2021

Department

Regional Industry MAS MCT

Industry

Health, Education and Life Sciences

Previous Events

Approved : Nov 6, 2013
Signed : Dec 18, 2013
Invested : Dec 24, 2013

Sector

Colleges, Universities, and Professional Schools

Project Description

Ozyegin University (OzU or the University) is a private foundation university in Turkey, founded in 2007, and started education in 2008-2009 academic year with 210 students admitted to its Undergraduate Business Administration Program. Today, the University is approaching a student body of 3,000 students in its 5 faculties, 2 vocational schools and 2 graduate schools. The vision of the University is to be a relatively financially accessible university with entrepreneurial and research focus.

Until 2011, the University operated out of a rented building in Altunizade, Istanbul. In 2010, the University embarked on a project (the Project) to build a state-of-art campus in Cekmekoy, Istanbul (the Campus). The Campus is designed by international architects, and its first phase, which was completed in summer of 2011, has received the internationally acclaimed LEED certificate granted to environmentally friendly buildings. The University has started education in the Campus in 2011-2012 academic year, in addition to its existing site in Altunizade, Istanbul.

The initial investment into the campus, which included two academic buildings, one prep school building, three student dorms, energy distribution center, student center and sports facilities, was partially financed by IFC through US$42.5 million loan facilities. The proposed project will finance the final investments in the Campus, which includes an additional academic building and two additional dorms and which will allow the university to consolidate operations under one campus. The university is in the process of obtaining LEED certification for most of its buildings upon completion.

Sponsor / Cost / Location

Development Impact

E&S Category Rationale / Risks and Mitigation