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Aqaba Special Economic Zone Authority (ASEZA) Chairman of the Board of Commissioners Shadi Ramzi Majali, received the Chairman of the Social Security Investment Fund (SSIF) Investment Board, Omar Malhas; SSIF CEO, Dr. Izzedine Kanakrieh; Chairperson of the Board of the National Company for Tourism Development (NTD), Nadia Rawabdeh; and the accompanying delegation to discuss the latest developments in the Fund’s projects and investments.
Majali emphasized that the partnership with SSIF represents a cornerstone in supporting Aqaba’s development journey, noting that the Fund’s presence as one of the largest institutional investors in the city reflects confidence in Aqaba’s investment climate and its position as a strategic regional hub.
He added that this partnership contributes to strengthening vital sectors and attracting more high-value investments, in line with the Royal Vision to develop Aqaba as an integrated investment and tourism destination, while supporting the objectives of the Economic Modernization Vision.
For his part, Malhas stated that the Fund’s investments in Aqaba align with its strategic vision to further leverage the city’s competitive advantages, including its strategic location on the Red Sea and advanced infrastructure.
SSIF CEO Dr. Izzedine Kanakrieh noted that the Fund is committed to enhancing its existing portfolio in Aqaba while expanding into priority economic sectors that deliver strong and sustainable economic and social returns for the Kingdom.
NTD Chairperson Nadia Rawabdeh stated that the company is advancing flagship tourism projects in Aqaba, including the full renovation of the InterContinental Aqaba Hotel to meet world-class hospitality standards, as well as the design of a new beachfront four-star “VOCO” hotel under IHG Hotels & Resorts; projects that will add a distinctive dimension to the city’s tourism offering.
The meeting concluded with an affirmation that SSIF’s investments in Aqaba reflect its commitment to maximizing the opportunities the city offers and capitalizing on its strategic location on the Red Sea as a fully integrated center for economic, tourism, and logistics activities. These investments stem from the Royal directives to develop Aqaba into a world-class investment and tourism hub and contribute to implementing the priorities and programs of the Economic Modernization Vision.
The Social Security Corporation (SSC) is a major investor in the tourism sector. Geographically, its portfolio covers most parts of the Kingdom through direct and indirect investments.
SSIF invests in the energy sector through strategic holdings in electricity generation and distribution companies, in addition to renewable energy projects
Al Daman for Development Zones Company (DDC) was established in 2009 as a private shareholding company fully owned by the Social Security Corporation. DDC is the investment arm of the Investment Fund for infrastructure development, services and marketing for the King Hussein Bin Talal Development Area in Al Mafraq and the Irbid Development Area
The value of the equity portfolio amounted to around JD 2,944.4 million as at 30/06/2025
The value of the bonds portfolio amounted to JD 9,831.6 million as at 30/06/2025
The portfolio consists of money market instruments with maturity dates that do not exceed one year, such as deposits, treasury bills, repurchase agreements, certificates of deposit and current accounts.
The Fund invests in medium and long term loans through direct lending to the Jordanian Government and its public institutions, and also by participating in syndicated loans to companies for a period that is not less than one year.
In September 2020, SSIF established a wholly owned company that will launch an agricultural project in the south on an area of 30,000 dunums with a total investment of JD 13 million