6 investment property
|
(CHF 1,000) |
|
Land |
|
Project and construction costs |
|
Buildings and engineering structures plus movables |
|
Total investment property |
|
Cost |
|
|
|
|
|
|
|
|
|
Balance as at 1 January 2021 |
|
950 |
|
176,232 |
|
395,248 |
|
572,430 |
|
Additions |
|
0 |
|
46,326 |
|
0 |
|
46,326 |
|
Transfers |
|
0 |
|
–170,177 |
|
170,177 |
|
0 |
|
Balance as at 30 June 2021 |
|
950 |
|
52,381 |
|
565,425 |
|
618,756 |
|
|
|
|
|
|
|
|
|
|
|
Accumulated depreciation and impairment losses |
|
|
|
|
|
|
|
|
|
Balance as at 1 January 2021 |
|
0 |
|
0 |
|
–5,488 |
|
–5,488 |
|
Additions |
|
0 |
|
0 |
|
–9,561 |
|
–9,561 |
|
Balance as at 30 June 2021 |
|
0 |
|
0 |
|
–15,049 |
|
–15,049 |
|
|
|
|
|
|
|
|
|
|
|
Net carrying amount as at 1 January 2021 |
|
950 |
|
176,232 |
|
389,760 |
|
566,942 |
|
Net carrying amount as at 30 June 2021 |
|
950 |
|
52,381 |
|
550,376 |
|
603,707 |
THE CIRCLE PROJECT
Based on the nature of the contractual arrangement, the co-ownership structure The Circle is classified as a joint operation in accordance with IFRS 11. The share of the rights to the assets and the share of the obligations for the liabilities of the co-ownership structure are therefore recognised and presented in the relevant line items in the consolidated financial statements of Flughafen Zürich AG (Flughafen Zürich AGʼs share: 51%).
The share of the fair value of the Circle was CHF 729.8 million at the reporting date (31 December 2020: CHF 707.9 million). The value was determined by an external expert using the discounted cash flow method (level 3) and taking into account the highest and best use.
