The 42 living spaces are located in a new building on Fischerinsel — and thus in the immediate vicinity of the business school — will be ready for occupancy in the summer. The seven apartments each have five rooms, a shared kitchen, and two shared bathrooms. In order to keep the rent as affordable as possible, ESMT will only charge students the actual costs incurred.

“With these apartments, ESMT is taking a first step towards providing affordable housing close to campus. However, the number of places provided is only a start, as it does not meet the needs of the growing number of students. For that, ESMT is planning a comprehensive campus development, which also includes student housing. With our own residence on campus, we want to offer our students the best possible conditions for their studies at ESMT,” says Georg Garlichs, CFO of ESMT.

Shashank Jain, student at ESMT, commented, “As a current MBA student from India, like many of my peers, I had to face the difficult housing situation in Berlin. It is safe to say that it was a stressful, time-consuming, and frustrating endeavor that did not end with an ideal, affordable solution. I am very happy that my school is taking steps to help us students.” India is only one of the 85 countries from which the current ESMT students come.

The offer will be open to all ESMT students, and current students have already been able to express their interest.