Trinity College Dublin will today launch its new €600m strategic plan.
The university has set itself an ambitious target to be among the top 20 universities in Europe and one of the top 50 in the world.
This year, Trinity was placed 71st in the QS World University Rankings (down 10 places), 131st in the Times higher Education ranking (down two) and number 200 in the Centre for World University Rankings report.
The university is, however, still consistently ranked as Ireland's best.
The new strategic plan will be financed partly by non-state income as Trinity moves towards more private funding instead of reliance on exchequer funding.
Over the next five years the University is hoping to enhance its building infrastructure through the Trinity Business School, an Engineering and Environment Institute and a cancer Institute costing €295m.
The university also plans to increase its non-EU students - which are worth significantly more in fees - to almost 3,000, or about 18% of the student body, which currently stands at approximately 17,000 in total.
Trinity is also planning new student residences with capacity for 2,000 students, with plans to develop Oisín House on Pearse Street, near the existing exit by New Square and the Printing House.
It also has plans to increase online learners on MOOCs - that's Massive Open Online Courses - to 1,000.