Saqqaf : SSIF Assets reached JD 10.9 billion and the income grew by 27% ‎at the end of the third quarter of 2019‎

Social Security Investment Fund CEO Kholoud Saqqaf said that the Fund’s total assets grew by 7% as at the end of September 2019  to reach JD 10.9 billion compared to JD 10.19 billion as at the beginning of the year.
 The Fund’s income significantly grew to reach  JD 442.6 million as at the end of September  2019 compared JD 347.9 million for the same period of 2018 representing a growth of 27% . This growth is mainly attributed to the increase of the fixed income instruments returns particularly, bank deposits and bonds in addition to the return on the real estate portfolio. Throughout 2019,  the Fund  bought lands and buildings at total cost of JD 30 million and rented lands and buildings whereas the value of these  rental contracts grew by 23% compared to the same period of 2018.

Saqqaf pointed out that the Fund  is recognized as the largest local financial investor that aims to achieve meaningful returns within acceptable risk rates, with great attention to the sustainable impact of its investments. SSIF is continuously seeking strategic partnerships with national and international partners to investigate the Kingdom's potential investment opportunities and to promote the business environment.
Saqqaf referred to the Fund's participation in the London Initiative 2019: "Jordan: Growth and Opportunities" at the end of February this year  that rallied the  international community support to attract international businesses and investors. She also referred  to the MOUs the Fund signed with the Investment Commission and with Meridiam/Jordan, wholly owned company by Meridiam SAS/ France.
According to Saqqaf, the Fund is now enhancing its direct and indirect  investments in the tourism sector as it is a major driver in national economic growth and job creation. The Fund and InterContinental Hotels Group (IHG) have recently renewed a 10 year management agreements  to manage 3 hotels wholly owned by the Social Security Corporation, the amended agreements terms would guarantee providing  better services to tourists and better return on the Fund’s Investments . The Fund also started the renovation of Crowne Plaza/ Petra that is expected to open to visitors towards the end of next year.
Saqqaf concluded that the Fund signed an agreement in April 2019 to establish two out of four solar farms to provide power to the hotels owned by the Social Security Corporation and the Corporation’s branches in addition to the Investment Fund building. A large part of the work in those stations was completed  with a capacity of 10 MW, which would be officially launched during the first half of 2020 year.