Kanakrieh: SSIF Generates JD12.1 Billion in Investment Earnings Since Inception

Kanakrieh: SSIF Generates JD12.1 Billion in Investment Earnings Since Inception

At the Government Communication Forum

Kanakrieh: SSIF Generates JD12.1 Billion in Investment Earnings Since Inception

Assets reach JD20.1 billion, up 8% since the start of the year

Return on assets stands at 8.3% at end-Q3 2026

Cumulative bond portfolio earnings total JD5.2 billion

Strategic investment shift expands social security’s role in major projects

Strategic partnerships span water, energy, transport and mining industries

SSIF investments strengthen Jordan’s economic competitiveness

The Social Security Investment Fund (SSIF) has generated cumulative investment earnings of JD12.1 billion since its establishment in early 2003 through September 2026, Chief Executive Officer Dr. Ezzeddin Kanakrieh said. These earnings, together with approximately JD6.4 billion in surplus cash transfers from the Social Security Corporation (SSC), have increased the Fund’s assets from JD1.6 billion at inception to approximately JD20.1 billion.

Kanakrieh was speaking to media representatives at the Government Communication Forum during a session titled “SSIF: A Strategic Shift in Investment,” attended by Dr. Zaid Al-Nawaiseh, Secretary-General of the Ministry of Government Communication. The discussion covered the Fund’s financial results for the first nine months of 2026, developments across its projects and its investment priorities for the period ahead.

Kanakrieh said SSIF is undergoing a strategic shift in its investment approach, expanding its stakes in major projects and building local, regional and international partnerships to diversify its investments and develop sources of long-term returns. He explained that the Fund’s strong financial position and accumulated investment expertise provide the foundation for this expansion, enabling partnerships that bring together capital, specialist expertise and the execution capabilities needed to develop and manage projects.

Turning to performance in 2026, Kanakrieh reported a return on assets of 8.3% at the end of the third quarter. The Fund’s assets increased by approximately JD1.5 billion from their year-end 2025 level of around JD18.7 billion.

This increase comprised approximately JD1.37 billion in comprehensive income and nearly JD110 million in insurance surplus transfers from SSC. Kanakrieh explained that comprehensive income consisted of JD879 million in net income, an increase of 8.6% over the corresponding period in 2025, alongside approximately JD492.4 million in net valuation gains on the strategic equity portfolio.

Kanakrieh stressed that investment decisions are grounded in technical and financial assessments of investment viability, expected returns and associated risks, within an established investment policy and institutional governance framework. The portfolio is managed to allocate capital across instruments, sectors and maturities while maintaining the liquidity needed to meet SSC’s future obligations.

Government bonds, he explained, are attractive fixed-income instruments widely used by pension funds and institutional investors worldwide, offering stable returns at low levels of risk. He said cumulative earnings from SSIF’s bond portfolio had reached JD5.2 billion and affirmed that the government continues to meet its bond interest payments on their scheduled due dates.

On real estate, Kanakrieh said the Fund’s portfolio was valued at approximately JD1.1 billion and comprised land and commercial complexes across Jordan’s governorates. SSIF’s approach centres on acquiring and holding land over the long term to benefit from capital appreciation, with purchases and sales undertaken in support of that objective. The Fund also generates returns through leasing and build-operate-transfer (BOT) agreements, some with terms of up to 25 years. Valuation gains on its real estate investments stood at JD291 million above acquisition cost.

He also highlighted the Fund’s approximately JD4 billion in investments in companies listed on the Amman Stock Exchange, representing more than 13% of the exchange’s market capitalisation. These holdings span banking, mining, telecommunications, tourism and services.

Reviewing the year’s major investments and partnerships, Kanakrieh highlighted SSIF’s 7% stake in the project company developing the Aqaba–Al-Shidiya–Ma’an railway, as well as the establishment of the National Water Investments Company to acquire a 15% stake in the National Water Carrier project company. The Fund is also contributing directly to financing the water project through its participation in a consortium of Jordanian commercial banks. Other initiatives include establishing the Jordanian-Omani Investment Company in partnership with the Oman Investment Authority and signing a memorandum of understanding with the Saudi Jordanian Investment Fund. He said these projects and partnerships broaden SSIF’s presence in vital sectors and create opportunities for synergies with its existing investments.

Looking ahead, Kanakrieh said the Fund is assessing new investment opportunities in technology, real estate development, energy, mining and transport, as well as projects under Jordan’s Economic Modernisation Vision, while seeking strategic partners to help develop them. These efforts run alongside work to grow existing investments and improve their performance, supporting income diversification, broadening the asset base and strengthening SSIF’s role as a long-term institutional investor.

Kanakrieh emphasised that investment viability remains the guiding criterion for this expansion. The Fund’s long-term portfolio strategy seeks to grow social security funds by generating attractive, sustainable returns within acceptable risk levels, strengthening its capacity to serve the interests of contributors and retirees and contribute to Jordan’s.