Reference Areas:
Best Pratices in PZU

Investment property31 December 201731 December 2016
Own land151145
Perpetual usufruct right to land327
Buildings and structures2,1991,565
cooperative ownership right to premises11
Total investment property2,3541,738
Movement in investment property1 January – 31 December 20171 January – 31 December 2016
Net carrying amount at the beginning of the period1,7381,172
Additions (by virtue of):918446
- purchase63138
- change in composition of the group25-
- transfers from owner-occupied property-13
- transfers from held for sale categories under IFRS 5830295
Reductions (by virtue of):(200)(13)
- sale and liquidation(4)(4)
- transfers to owner-occupied property(157)(5)
- transfers to held for sale categories under IFRS 5(39)(4)
Gain (loss) on remeasurement to fair value(101)133
- through profit or loss(101)126
- through other comprehensive income-7
Foreign exchange differences(1)-
Net carrying amount – at the end of the period2,3541,738

The item “Perpetual usufruct of land” contains the right to use land for up to 99 years. This right may be traded.

The item “transfers from owner-occupied property” contains the value of properties at their carrying amounts (historical cost less accumulated depreciation and impairment losses) as at the date of transfer, which is the date of the change of use.

The fair value of investment property results from valuations by independent appraisers conducted mainly in 2017.


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