text: Valuations are performed on a quarterly basis at each interim reporting date. Valuations for interim reporting purposes are prepared 
  internally by the Company’s finance department using cap‑rates provided by the Company’s external valuator. On an annual basis the 
  Company obtains full valuation reports from an external valuator for approximately 20% of its investment property portfolio, and therefore 
  every property is externally valued at least once every five years. 
  
  At each reporting date, the finance department analyses the movement in each property’s value. For this analysis, the finance department 
  verifies the major inputs applied in the latest valuation by referencing supporting information in the calculation to market reports and 
  other relevant documents. For each property, the latest valuation is also compared with the valuations in the preceding quarter. If the fair 
  value change (positive or negative) is more than 5%, the change is further analyzed to ensure reasonability, as well as absence of expected 
  changes. 
  
  On a quarterly basis, the finance department discusses assumptions used in the valuations, with an emphasis on: (i) properties with fair 
  value changes outside of the relevant threshold set out above; and (ii) IPUC. 
  
  The following table presents the following for each class of investment property: 
  
  •  the level of the fair value hierarchy; 
  
  •  the carrying amount or fair value of the investment property; 
  
  • a description of the valuation technique; and 
  
  •  for Level 3 fair value measurements, quantitative information about significant unobservable inputs. 