# 15. INVESTMENT PROPERTIES — Continued

# Information about fair value measurements using significant unobservable inputs — Continued

<table><tr><td>Description</td><td>Fair value
as at
December 31,
2017 
RMB’000</td><td>Valuation techniques</td><td>Unobservable inputs</td><td>Range (weihdgte average)</td><td>Relationship of
unobservable
inputs to fair value</td></tr><tr><td colspan="6">(2) Investment properties under construction — fair values determined by Colliers — continued</td></tr><tr><td colspan="5">Chonidigqng Concor Cty — continued</td><td></td></tr><tr><td>Office</td><td>1,561,222</td><td>Residual approach</td><td>(i)   Selling price, taking into account 
the differences in building age 
and frontage between the 
comparables and the property</td><td>RMB29,162 per square meter</td><td>The hihger the selling price, 
the hihhger te fair value.</td></tr><tr><td></td><td></td><td></td><td>(ii)   Expected developer profit</td><td>30%</td><td>The hihger the exdpecte 
developer profit, the 
lower the fair value.</td></tr><tr><td></td><td></td><td></td><td>(iii) Construction cost</td><td>RMB9,000 per square meter</td><td>The hihger the cost, the 
lower the fair value.</td></tr><tr><td></td><td></td><td></td><td>(iv) Discount rate</td><td>5%</td><td>The hihdiger the scount 
rate, the lower the fair 
value.</td></tr><tr><td></td><td></td><td></td><td>(v)   Rate of finance cost</td><td>5%</td><td>The hihger the rate of 
finance cost, the lower 
the fair value.</td></tr></table>

# 15. INVESTMENT PROPERTIES — Continued

# Information about fair value measurements using significant unobservable inputs — Continued

<table><tr><td>Description</td><td>Fair value
as at
December 31,
2017</td><td>Valuation techniques</td><td>Unobservable inputs</td><td>Range (weihdgte average)</td><td>Relationship of
unobservable
inputs to fair value</td></tr><tr><td></td><td>RMB’000</td><td></td><td></td><td></td><td></td></tr><tr><td colspan="6">(2) Investment properties under construction — fair values determined by Colliers — continued</td></tr><tr><td colspan="5">Chonigqng International Commerce Centre</td><td></td></tr><tr><td>Retail</td><td>3,834,165</td><td>Residual approach</td><td>(i) Gross caiiptalsation rate, taking 
into account the caiptalisation of 
rental income potential, nature 
of the property and prevailing 
market conditions</td><td>7%</td><td>The hihger the gross 
cailiptasation rate, the 
lower the fair value.</td></tr><tr><td></td><td></td><td></td><td>(ii) Market rent, taking into account 
the differences in location, and 
individual factors, such as 
frontage and building age, 
between the comparables and 
the property</td><td>RMB461 per square meter 
per month</td><td>The hihger the market rent, 
the hihhger te fair value.</td></tr><tr><td></td><td></td><td></td><td>(iii) Expected occupancy rate</td><td>60%–85%</td><td>The hihger the exdpecte 
occupancy rates, the 
hihhger te fair value.</td></tr><tr><td></td><td></td><td></td><td>(iv) Expected developer profit</td><td>30%</td><td>The hihger the exdpecte 
developer profit, the 
lower the fair value.</td></tr><tr><td></td><td></td><td></td><td>(v) Discount rate</td><td>10%</td><td>The hihdiger the scount 
rate, the lower the fair 
value.</td></tr><tr><td></td><td></td><td></td><td>(vi) Construction cost</td><td>RMB5,614 per square meter</td><td>The hihger the cost, the 
lower the fair value.</td></tr><tr><td></td><td></td><td></td><td>(vii) Rate of finance cost</td><td>5%</td><td>The hihger the rate of 
finance cost, the lower 
the fair value.</td></tr><tr><td></td><td></td><td></td><td>(viii) Rental growth rate</td><td>6%</td><td>The hihger the rental 
growth rate, the hihger 
the fair value.</td></tr></table>