(JTA) — The Technion-Israel Institute of Technology dedicated new dormitories at its campus in Haifa built with a $5 million donation from World Jewish Congress President Ronald Lauder and his wife, Jo Carole.

The dorms are part of a housing complex consisting of four nine-story buildings with 116 apartments and space for nearly 500 residents. It will house 408 single students and 40 couples.

The building was dedicated Tuesday during the annual meeting of the Technion’s International Board of Governors in a ceremony attended by Israeli Minister of Education Naftali Bennett, Haifa Mayor Yona Yahav and Technion President Peretz Lavie.

Lauder said at the ceremony that the students who will live in the dormitory “are building the future of the State of Israel and the Jewish people.”

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