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Social Security Investment Fund (SSIF) Chairman Suleiman Hafez on Tuesday unveiled a project to develop the Petra Crowne Plaza Hotel owned by the Social Security Corporation (SSC). The SSIF approved the project in light of the technical, financial and economic studies carried out and the field visits stakeholders paid to the location in coordination with officials at the Petra Development and Tourism Region Authority (PDTRA), Hafez said in an SSIF statement. The SSIF also had to receive a UNESCO approval on implementing the scheme, because it is located in an area classified as a world heritage. The implementation of the project include increasing the total number of rooms to 235 and revamping current ones along with their facilities, Hafez said. He added that a comprehensive health club will be established in a separate building, to be the first of its kind in Petra. The upgrading will also include the establishment of a main restaurant that can accommodate 300 people, a gym and a swimming pool, which will contribute to increasing economic and development revenues of the project in terms of creating new jobs to local residents, stimulating tourism and boosting SSC investments, the SSIF Chairman indicated. Moreover, the project will include building a conference hall according to international standards that can accommodate 600 people, making it the first conference hall in Petra, which would contribute to attracting and providing a good environment for conference tourism. Hafez commended PDTRA's efforts and continuous support to facilitate the implementation of the project, which accords with the authority's future plans aimed at improving tourist services in Petra.
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 2,699.6 million as at 31/03/2025
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