7. Properties held for sale

In CHF 1,000

1st half 2021

1st half 2020

Acquisition costs as at 1 January

21,501

40,965

Changes in scope of consolidation

-

1,626

Increases

29

2,378

Disposals

–1,922

–7,557

Acquisition costs as at 30 June

19,608

37,412

Increases consisted purchases of buildings and ongoing construction activities in development properties.

In the 1st half 2021, several apartments of “Route de Crans 89” in Lens, “Gstaadstrasse 6/8” in Saanen and “Avenue Neuve 22” in Ardon, were sold.

In the 1st half 2020, several apartments of “Route de Vermala 43/45” in Crans-Montana, “Route de Crans 89” in Lens, “Gstaadstrasse 6/8” in Saanen and “Avenue Neuve 22” in Ardon, were sold. The shareholding in the proportional consolidated company Raffaele Investissement SA was increased from 50% to 100% in January 2020. Hence, the property “Rue du Prado 19” is thereafter fully consolidated.