SSIF and Amman Vision Company sign MoU to explore potential investment opportunities in real estate development
June 22, 2020
The Social Security Investment Fund (SSIF) CEO Mrs. Kholoud Saqqaf and the Mayor of Amman / Chairman of Amman Vision Investment & Development (AVID) Dr. Yousef Shawarbeh signed a memorandum of understanding to explore investment opportunities in real estate development and other vital sectors in Amman.
Shawarbeh said that this MOU will reinforce the partnership concept that the company seeks to achieve, especially with SSIF, the largest strategic investor in the Kingdom. He added that as the MOU will enable AVID pursue its role as the main developer of lands and investment licenses owned by the Greater Amman Municipality (GAM), and to market the potential investment opportunities that will eventually provide Amman with a high level of diversified services that will contribute to the City’s development.
SSIF CEO Mrs. Kholoud Saqqaf pointed out that this MOU reflects one of SSIF’s strategic goals to invest in feasible projects in real estate development and infrastructure sectors through partnerships with local institutions and the private sector. These partnerships will help increase the value of SSIF’s portfolio, stimulate economic activity in the Kingdom and achieve sustainable development. Accordingly , SSIF will study investment in several projects, the most prominent of which are establishing a convention center, Amman new slaughterhouse , and medical complexes.
Saqqaf emphasized that SSIF will only invest in projects that are proven to be economically feasible based on the results of technical, financial and legal environmental analysis.
SSIF CEO said that the Fund is also studying a number of investment opportunities that aim at maximizing the value of the Fund's real estate portfolio, promoting the infrastructure landscape and providing various services to the citizens, some of which are developing the lands owned by the Social Security Corporation , a number of projects announced by the Public-Private Partnership Projects Unit, as well as projects in the health and education sectors through the finance leasing.
AVID CEO Eng. Hamzeh Haj Hassan said that company is currently developing different opportunities for investing the assets of the to meet the diverse needs of citizens and the prospects of investors through partnerships between the public and private sectors . According to Haj Hassan, AVID strategic partnership with the SSIF will attract investors to look thoroughly into the company’s investment opportunities and also provide the necessary financing for those projects. AVID is in the final stages to conclude the feasibility studies of seven investments opportunities that were announced earlier this year, and will be announcing a number of new opportunities in August .
