The Russian Direct Investment Fund (RDIF) and Rönesans Holding, the leading construction, real estate development and investment company, have reached an agreement to expand the scope of their joint investment activities.

The parties are focused on attractive investment opportunities within the Russian Federation and have identified healthcare, construction, infrastructure and commercial real estate as priority sectors. 

The agreement was signed the 9 of August as part of President of the Republic of Turkey Recep Tayyip Erdogan’s official visit to the Russian Federation. Under the agreement, both RDIF and Rönesans Holding could invest up to US$200 million into the partnership.

The RDIF was established in 2011 to make equity co-investments, primarily in Russia, alongside reputable international financial and strategic investors. 

Rönesans Holding was established in 1993 in St. Petersburg, Russia and it operates in fields as construction, real estate development, energy and health. 

Rönesans Holding was the winner of several PPP projects in the healthcare sector in Turkey during the last years.

Kirill Dmitriev, CEO of the Russian Direct Investment Fund (RDIF), said:

"We are pleased to continue cooperation with Rönesans Holding. RDIF and Rönesans have been actively evaluating a number of attractive joint projects in Russia leveraging Rönesans experience in infrastructure, construction, healthcare, energy, and real estate development. We hope that our ties and the experience in implementing joint projects in Russia and Turkey will make a significant contribution to the strengthening of the investment partnership between the two countries."

Dr. Erman Ilıcak, President of Rönesans Holding, said:

“As a company born in this country, we have always regarded Russia as one of our most important investment partners. Since the establishment, we have successfully completed various projects and developed strong relationships in the Russian market. As the next stage of this work, we are proud to be partnering with RDIF and strengthening the investment partnership between Turkey and Russia. We believe that implementing joint projects in both countries will strengthen their respective economies.”