The University of Chicago announced on Monday that it will begin construction on a new center in Hong Kong, diversifying the University’s international engagement.

“The Yuen Center will be a home for education and research in the context of collaboration and engagement in Hong Kong, China, and Asia, building upon the University’s rich history of scholarship in the region,” University President Robert Zimmer said. The University currently runs centers in Beijing, Delhi, and Paris.

Scheduled to open in 2018, the Francis and Rose Yuen Center will support study abroad programs in the College, house University of Chicago Booth School of Business programs, and advance interactions with regional partner institutions, including local businesses, universities, and the social services sector. Regional institutions the University has partnered with in the past include World Wildlife Foundation Hong Kong, Wells Fargo (Asia Pacific Region) and the University of Hong Kong.

The Yuen Center will also serve as the new hub for the Booth Executive M.B.A. Program Asia and other expanded Booth social innovation and entrepreneurship programs, which are directly focused on social impact in Hong Kong. These programs will complement businesses, nonprofits, and government agencies that seek to solve social, environmental, or cultural problems in the region.

The construction of the Yuen Center will be supported by a $30 million grant from the nonprofit Hong Kong Jockey Club Charities Trust.