French business school ESSEC marked the groundbreaking of its new $40 million campus in Singapore on Tuesday.

ESSEC Business School's campus will be located at Nepal Hill in one-north. The construction of the five-storey Asia-Pacific campus is scheduled for completion by the end of 2014.

With the new building, the business school will be able to triple its faculty members, from the current 11, to more than 30 by 2017. It will also allow the school to take in some 1,500 students per year. Since 2005, it has taken in more than 3,000 students.

The business school's Asia-Pacific campus, which started operations here in 2005, currently conducts lessons at its premises at the National Library Building at Victoria Street. It offers courses such as Luxury Brand Management and Health Economics and Management.