Ammon News - Chairman of the Social Security Investment Board (SSIF) Omar Malhas said that the value of the land purchased by the Fund in the first and second phases of the Amra City Project reached JD172 million.

During a meeting of the Labor, Social Development, and Population Committee on Sunday, Malhas stated that the Fund purchased 16,000 dunams in the first phase at a price of JD5,600 per dunam, noting that the administrative value, according to the Department of Lands and Survey, is JD8,000 per dunam. The Fund also purchased 40,000 dunams in the second phase of the project at a price of JD2,100 per dunam, noting that the administrative value is JD3,000.

With this acquisition, the Fund increases its real estate investments from 4.9% to 5.9% of its total investment portfolio after purchasing a portion of the Amra City land.

Malhas emphasized that the government did not interfere in the decision to purchase the land in Amra City, as it was a decision made by the Fund for a long-term investment of up to 30 years.