In the 1st half 2018, the two properties “Rue de Zurich 35” in Geneva and “Rue du Vieux-Chêne 20–22” in Chêne-Bougeries were acquired with the takeover of Société d’investissements immobiliers SII SA.  The increases relate to ongoing construction activities of the properties “Saanen”, “Hérémence” and “Chemin des Chantres 8” in St.-Sulpice. The property “Rue du Vieux-Chêne 20–22” and one apartment in the jointly held (50%) property “Rue du Prado 19” in Lens were sold. The property “Chemin des Chantres 8” was reclassed from investment properties under construction (non-current assets, valued at fair value) and is subsequently valued at the lower of this value (including construction costs after reclassification) or fair value.

In the 1st half 2017, one apartment in the jointly held (50%) property “Rue du Prado 19” in Lens was sold and the land “Saanen”, previously undeveloped plots of land, was reclassified as property held for sale.