AMMAN – On Sunday, Dr. Ezzeddin
Kanakrieh, CEO of the Social Security Investment Fund (SSIF), stated that the
fund’s assets at the end of 2023 amounted to approximately JD14.9 billion,
compared to JD13.8 billion at the end of 2022, reflecting a growth rate of
approximately 7.6 percent.
The strong performance of the
investment portfolios during 2023 resulted in a significant increase in net
income, reaching around JD802 million by the end of 2023, compared to
approximately JD684 million for the same period in 2022, Al-Mamlaka TV reported.
The income was derived from various
investment portfolios:
- Bonds portfolio: Valued at JD483.7 million.
- Equities portfolio: Valued at JD147.5 million.
- Money market instruments portfolio: Valued at JD119.9 million.
- Additionally, income was generated from real estate investments and loans.
اضافة اعلان
The growth in asset size, amounting
to JD1.1 billion, contributed to the comprehensive income of JD667 million.
This comprehensive income represents the fund’s earnings from investment
apparatuses, totaling JD802 million, after deducting the stock valuation
reserve decrease of JD135 million. Furthermore, there was a surplus transferred
from the Social Security Corporation (SSC), amounting to approximately JD380
million.
The core components of the
investment portfolios remained stable according to the specified ratios in the
investment policy. The investments were distributed across financial
instruments with good and stable returns and low-risk levels:
- Bonds portfolio: Comprised 57.2 percent of the total fund portfolio.
- Equities portfolio: Represented 15.9 percent.
- Money market portfolio: Accounted for 13.7 percent.
- Real estate investment portfolio: Constituted 5.7 percent.
- Loans portfolio: Comprised 3.7 percent.
- Tourism investments portfolio: Represented 2.2 percent.
The value of the stock portfolio for
public and private joint-stock companies reached approximately JD2.3 billion,
including around JD2.1 billion invested in companies listed on the Amman Stock Exchange (ASE). These investments represent approximately 12.4 percent of the
total market capitalization of the exchange and are distributed among major
companies in the banking, industrial, and service sectors. Notably, the SSIF
share of cash distributions from company results in 2022 reached JD152 million,
the highest in the fund’s history.
The fund continued to increase the
size of its real estate investment portfolio through land and property
acquisitions. Additionally, several new leasing and investment contracts were
signed in 2023. According to international accounting standards, the book
profits for the real estate portfolio at the end of 2023 exceeded JD180
million.
SSIF
projects
Al-Daman Investment and Agricultural Industries Company (DIAI) cultivated over 19,000 dunums in the Al-Mudawara
region, growing crops such as wheat, clover, onions, and potatoes. The company
provided more than 110 job opportunities for engineers and agricultural
workers, with 90 percent of these opportunities going to residents of
Al-Mudawara and southern governorates. Additionally, the company offered 80
seasonal job opportunities, with 50 percent reserved for local women.
In the field of tourism investment,
the Amman Paradise Hotel was reopened last year through an investment contract
with a local investor. The hotel provides 100 permanent job opportunities for
qualified local workers. Furthermore, the National Company for Tourism Development (NTD), wholly owned by the SSIF, leased the Karak Resthouse to a
local investor. Currently, maintenance work is underway at the Zee Resthouse,
and it will subsequently be offered as an investment opportunity through a
tender for local investors.
The expansion and rehabilitation of
the Crowne Plaza Resort Petra continue, including updates to hotel rooms,
chalets, and facilities. Additionally, the hotel will feature the first
international-standard conference hall in southern Jordan upon its reopening,
providing 200 permanent job opportunities.
The SSIF is currently finalizing bid
documents for the design and implementation of a solar power plant in the
Shobak area.
Dr. Kanakrieh revealed that the size
of Jordanian, Arab, and foreign investments in the King Hussein Bin Talal Development Area (KHBTDA) in Mafraq has increased to approximately JD500
million. Among these investments are 58 operational factories and those under
construction and design across various industrial sectors. The existing
factories provide around 1,300 permanent job opportunities, while those still
in the design and construction phases are expected to offer approximately 1,780
permanent job opportunities. Notably, the Mafraq Development Corporation, an
investment arm of the SSC, attracted seven new investments for the region
during the past year, totaling JD55 million. These investments are anticipated
to create over 400 permanent job opportunities.
As part of SSIF’s commitment to
institutional governance and best practices, it continued organizing governance
forums for representatives on the boards of companies in which the SSC holds
stakes. These forums aim to exchange experiences with partners and keep
representatives informed about the latest legislative and economic
developments. The goal is to ensure that representatives play their role in
enhancing the value of SSC investments in these companies, in collaboration
with other shareholder representatives.
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