Amman, 21 June (Petra) - The Social Security Investment Fund and Amman Vision Investment and Development signed a memorandum of understanding on Sunday to study investment in a number of vital sectors in Amman. The Mayor of Amman and Chairman of the Board of the company, Dr. Yousef Al-Shawarbeh, said the signing of the memorandum reinforces the concept of partnership with a national strategic investor such as the Social Security Investment Fund, strengthening the company's ability to act as the principal developer of the land and investment licences owned by the Municipality, and enabling it to market many vital projects necessary for the prosperity of the capital and to deliver an advanced level of diverse services. Al-Shawarbeh explained that what distinguishes Amman Vision is its understanding of the market and its needs, and its presentation of investment opportunities supported by feasibility studies rather than investment ideas not grounded in economic analysis. The Chairperson of the Social Security Investment Fund, Kholoud Al-Saqqaf, said the Fund is keen to partner with all national institutions and the private sector to establish viable projects that strengthen the business environment in the Kingdom, and that this partnership with Amman Vision, as the investment arm of the Municipality, aligns with the Fund's strategic direction to expand its investments in the services sector and real estate development, contributing to investment returns, stimulating economic activity in the Kingdom and achieving sustainable development. She noted that the memorandum allows the Fund to invest in opportunities of proven economic feasibility in light of the results of technical, financial, legal and environmental studies, confirming that after many meetings with the company, during which some projects and proposed investment methods were presented, the Fund would study investment in several projects, most notably the new Amman slaughterhouse project, the exhibition grounds project, and medical complexes. She added that the Fund is currently studying the opportunities available to develop land owned by the Social Security Corporation and to establish projects on it in order to maximise the value of the Fund's real estate portfolio, given its important role in developing infrastructure in the Kingdom and providing diverse services to citizens, in addition to the Fund studying investment in a number of major projects announced by the Public-Private Partnership Projects Unit, as well as projects in the health and education sectors through the finance leasing window. The Chief Executive Officer of the company, Eng. Hamza Al-Haj Hassan, said the company works to develop and provide various opportunities for investing the assets of the Greater Amman Municipality in a way that meets citizens' diverse needs and investors' aspirations through a genuine partnership between the public and private sectors, by managing these projects on commercial foundations with the aim of generating profits for all investors and contributing to the city's real estate development and the improvement of its services in a manner reflecting the urban progress of the city of Amman. He noted that the company had launched a package of investment opportunities at the beginning of that year for residential, health, leisure, shopping centre and services projects, and that the company was working to complete the economic feasibility studies for seven investment opportunities. He added that the second package of new projects across several sectors would be announced the following August, through investment options aimed at achieving investment returns for the Municipality via sustainable projects.
Source: https://www.petra.gov.jo/Include/InnerPage.jsp?ID=142591&lang=ar&name=news
