Amman, April 27 (Petra) – The total assets of the Social Security Investment Fund reached approximately JD 16.7 billion by the end of the first quarter of this year, compared to JD 16.2 billion for the same period last year.

Fund Chairman Ezzedine Kanakrieh attributed this positive performance to income from various investments, which totaled approximately JD 240 million, an increase in the valuation of the strategic equity portfolio by around JD 243 million, and an insurance surplus transferred from the Social Security Corporation amounting to JD 57 million.

In a statement issued by the Fund on Sunday, Kanakrieh noted that these results reflect the Fund's prudent investment strategy, which focuses on diversifying portfolios and maximizing returns within calculated risk levels. He underlined that the Fund remains committed to enhancing sustainable financial performance to support Social Security funds, ensure their future growth, and reinforce the resilience of the national economy.

Kanakrieh highlighted that income grew by 11.2 percent during the first quarter compared to the same period last year, driven by the strong performance of investment portfolios. The bond portfolio generated approximately JD 145.1 million in income, the money market instruments portfolio JD 34.9 million, and the equity portfolio JD 51.8 million, including JD 47 million in cash dividends received from companies that held general assemblies during the first quarter.

He stressed that the robust performance of the Jordanian economy and its enhanced investment attractiveness, resulting from national economic policies, contributed significantly to these results. The Fund’s share of cash dividends for 2024 is projected to exceed JD 188 million, setting a record high.

Kanakrieh noted that this performance reflects the quality of the Fund’s investments and the strength of its strategic contributions to vital sectors within the Jordanian market. The increase in cash dividends stands as a clear indicator of the efficient financial performance of the companies in which the Fund invests.

He further explained that the impact of the increased dividends would be primarily reflected in the Fund’s profits during the second quarter, as the majority of major companies held their general assemblies after the first quarter, and thus some dividends were not recorded in the first-quarter financial results.

Kanakrieh added that, in alignment with the goals of the Economic Modernization Vision, the Fund is studying new investment opportunities in the mining, transportation, and infrastructure sectors, including participation in the national carrier project. These initiatives aim to strengthen the Fund’s role in efficiently managing Social Security subscribers' and retirees' funds and transforming them into engines of national financial and economic stability.

The real estate portfolio also maintained strong performance, reaching approximately JD 888 million by the end of the first quarter. The Fund is actively developing this portfolio through strategic land and property acquisitions and implementing long-term lease contracts, particularly under the Build-Operate-Transfer (BOT) system, with investors establishing diverse, long-term projects that enhance the economic impact of real estate investments.

In the tourism sector, engineering designs are underway for the first four-star beachfront hotel in Aqaba, which will operate under the VOCO brand, a subsidiary of the InterContinental Hotels Group. This project addresses a market need for modern, cost-effective beachfront facilities, contributing to Aqaba’s competitiveness as a regional tourism destination and promoting sustainable tourism in the Kingdom.

In the field of development investment, the Fund’s development zones continued to attract high-quality local and regional investments. Total private sector investments in the King Hussein Bin Talal Development Area in Mafraq and the Irbid Development Area rose to approximately JD 886 million, spanning the industrial, technological, educational, and renewable energy sectors. These investments have created more than 4,200 permanent job opportunities, with further growth expected as new projects are completed.

As part of its commitment to expanding sustainable energy initiatives, the Fund signed an agreement to implement a fourth solar power plant in the Shobak area, complementing three existing plants with a total capacity of 15 megawatts. These projects aim to reduce energy costs and improve energy efficiency in properties owned by the Social Security Fund.

To further strengthen strategic partnerships, the Fund signed a Memorandum of Understanding with the Deposit and Management Fund of the Kingdom of Morocco, aiming to exchange institutional expertise and explore joint investment opportunities in priority sectors, thus enhancing regional investment cooperation.

At the local level, the Fund signed another Memorandum of Understanding with the General Corporation for Housing and Urban Development to develop projects on Fund-owned lands, further boosting its real estate portfolio and driving investment projects with direct developmental impact.

//Petra// AJ

27/04/2025 14:55:44