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Main Page arrow News arrow Erman Ilıcak: We combine our ability to generate finance with our construction experience
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Erman Ilıcak: We combine our ability to generate finance with our construction experience

30 September 2022
Rönesans, the 8th largest contracting company in Europe and the 24th largest in the world, increases the market share of the Turkish construction industry worldwide with its impressive foreign revenues
Rönesans jumped four places in the world rankings this year, reaching 24th place worldwide and moved up to 8th place in Europe in the "World's Top 250 International Contractors" 2022 list based on foreign revenues of contracting companies, prepared by ENR (Engineering News Record), one of the most prestigious magazines representing the international construction industry. Rönesans, which operates in construction, real estate, health, and energy over a vast area, including Turkey and Europe as well as Central Asia, the Middle East, and Africa, contributed to the increase of Turkey's share in the world construction market with its rise on the list. Turkey, which was included on the ENR list with 42 companies this year, ranked second in the world in contracting. Rönesans achieved 18% of the total foreign revenues from the 42 Turkish companies included on the list and received 29% of new international contracts. 

Emphasizing that they focus on infrastructure and social reinforcement projects in new countries as well as their existing markets abroad, Rönesans Holding President Dr. Erman Ilıcak said, "At Rönesans, we have transformed our 30 years of experience into end-to-end solutions with the EPCF (Engineering, Procurement, Construction, and Financing) model we have developed with our business partners in recent years. Thus, we have expanded our activities by focusing on infrastructure and social reinforcement projects in new markets abroad. In Europe, we occupy the same market as the world's largest companies. The most important components that make us stand out competitively are our ability to combine international finance with our construction skills, create synergy, and enter new markets and business areas.

While explaining Rönesans’ strategies for growth, Dr. Ilıcak stated: "Strategically, our revenues are spread across six different business areas. With 99 ongoing projects in these six different areas, Rönesans is at the forefront when it comes to business line diversity. Recently, we have been increasing our investments in the field of renewable energy. Focusing on a single business can make companies more vulnerable while making resilience and sustainable, profitable growth risky. In particular, we plan to continue increasing the group's competitive advantage and technical capacity and make acquisitions aimed at growth in new countries. It is crucial to establish the right collaborations while we expand our business. In addition, we aim to continue to cultivate long-term relationships based on trust with our business partners. Rönesans acquired German company Heitkamp, in 2014 and Ballast Nedam, one of the ten largest construction companies in the Netherlands with a 145-year history, in 2016. Rönesans has significantly increased its activities in the Netherlands, Germany, Switzerland, and the UK. Receiving 78% of its total turnover from abroad with its companies established in 30 countries, Rönesans' share of European turnover is more than 30%. As a result of this growth, Rönesans has been listed among the top 10 companies in Europe with its overseas revenues since 2015."


The top 10 companies control 59.1% of the European market 

Rönesans has moved up one place to 8th position on the European list, which includes prominent global companies such as Vinci, Strabag Se, Bouygues, Ferrovial, Royal Bam Group Nv, Skanska Ab, Eiffage, Porr Ag, and China Railway Construction. ENR's research revealed that the European region's total revenue was $66.8 billion. The full share of the top 10 companies in the European market was 59.1%.





About Rönesans Group

Rönesans Holding, the conglomerate's top investment entity headquartered in Ankara, is the 38th largest international contracting company globally and the 9th largest in Europe. With operations spanning 30 countries across Europe, Central Asia, and Africa, including subsidiaries such as Ballast Nedam in the Netherlands and Heitkamp Industrial Solutions GmbH in Germany, Rönesans has been operating as the main contractor and investor successfully for 30 years in construction, real estate development, healthcare and energy. Putting resilience and growth through innovation at the core of the company, with a priority on sustainability and social development, Rönesans has developed projects supporting students with scholarships, academic platforms and initiatives; been a signatory of the UN Global Compact since 2015; and a signatory of the UN Women’s Empowerment Principles since 2016.

Under the leadership of its president, Erman Ilıcak, and Chair of the board, İpek Ilıcak Kayaalp, Rönesans, along with its partners GIC, Meridiam Infrastructure, Sojitz, Samsung C&T, TotalEnergies, and IFC of the World Bank Group (minority shareholder in the group), has invested more than EUR8 billion into pioneering projects globally.


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