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      "text": "CPIPG's fair value policies indicate that once a plot of land or an old building is designated as an investment property under development, the valuer is to project forward the net profit of the fully leased project.",
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      "text": "CPIPG's fair value policies indicate that once a plot of land or an old building is designated as an investment property under development, the valuer is to project forward the net profit of the fully leased project.",
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      "text": "CPIPG's Net LTV measures debts against its quick-to-increase and slow-to-impair portfolio property fair values, including those made to undeveloped land or land with development permits only.",
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      "text": "Furthermore, CPIPG's 2023 disclosures report that its internal valuation department is conducting the valuations for assets in the UK, France, as well as the Czech Republic's residential portfolio.",
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      "text": "The valuer used the Residual Value Approach for the valuation of the investment property under development. In order to assess the market value of the sites, the valuer undertook a development appraisal to assess the potential value (Gross Development Value) of the fully completed and leased development as currently proposed, and deducted hard costs, soft costs, financing costs and a developer's expected required profit (which reflects the required level of return to a developer and the risk of undertaking the project). — CPIPG 2023 management report, p. 117",
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