SSIF issues tender for Petra hotel renovation

The Social Security Investment Fund (SSIF) has recently issued a tender to implement and supervise the renovation of the Crowne Plaza/Petra, the fund said on Saturday. 
The Social Security Corporation-owned National Company for Tourism Development issued the tender after receiving all relevant approvals from the Petra Development and Tourism Region Authority for the renovation project, which is expected to last for 18 months, an SSIF statement said on Saturday.
The fund highlighted the importance of the restoration of the hotel, as it plays a “vital role” in increasing the number of tourists in Petra.
The SSIF also highlighted the role of the hotel in serving the local community through creating jobs for Petra and Wadi Mousa residents, as well as stimulating economic sectors related to tourism in the southern governorates.
The SSIF owns direct investments in the tourism sector, with a total investment value exceeding JD250 million, where the fund owns several five- and four-star hotels in various tourist areas nationwide, which are run by the InterContinental Hotels Group and provide some 1,400 jobs for Jordanians, according to the statement. 
In October, the SSIF announced that its total assets grew by 7 per cent by the end of September 2019 to reach JD10.9 billion, compared with JD10.19 billion at the beginning of the year.
The SSIF’s revenues also increased to reach JD442.6 million by the end of September, compared with JD347.9 million during the same period of 2018, constituting a 27 per cent growth.