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Turkish construction and investment firm Rönesans Holding’s healthcare unit​ will complete a yen-denominated loan deal worth US$1.5 billion for its Istanbul Ikitelli city hospital project from Japanese banks JBIC, Nexi, SMBC and BTMU by the end of March 2017. 

Rönesans, with Renaissance Healthcare Investment, acquired the PPP project in March 2012.

The public-private partnership (PPP) project involves the design, construction, financing and operationof the health campus, as well as the supply of facilities and equipment. The health campus with an investment period of 3 years and operation period of 25 years is stipulated to serve 100.000 visitors per day with its 10.000 employees.

The new 2682-bed hospital will be constructed on a building plot of approximately 800.000 m². The integrated campus will be made up of :

• General Hospital: 443 beds
• Pediatrics: 451 beds
• Oncology: 359 beds
•  Gynecology: 451 beds
• Neurology and Orthopedics: 347 beds
• KVC: 303 beds
• Psychiatry: 128 beds
•  FTR: 200 beds

The campus will consist of two pieces of lands separated by a road. The northern part of the project area will include 6 hospital buildings, a diagnostic and treatment block, one central plant, an administration area and a conference hall. This part will also include a ceremonial square and a trigeneration unit building. The Southern part of the project area will consist of Psychiatric Hospital and Physical Theraphy and Rehabilitation Hospital.

Aditionally, the company recently announced a financing through bond exports from a group of investors entirely made up of foreign investors for the Elazığ City Hospital project in eastern Turkey. 

The bond export amounting to €288 million (US$300 million) was made through private placement to a group of foreign investors consisting of the IFC, the Japanese financial institution MUFG, Italy’s Intesa Sanpaolo, Germany’s Siemens Financial Services, France’s Proparco, Dutch FMO and the Industrial and Commercial Bank of China (ICBC).

The healthcare investment firm will also complete in 1-2 months a €400 million (US$415.5 million) loan deal to finance a hospital project in Bursa, from European banks and one Chinese bank.

Besides, Rönesans is working with French fund Meridiam on public–private partnership (PPP) investments in Morocco and Senegal.