text: *(ii) Investment property under construction (“IPUC”)*
  The cost of development properties includes direct development costs, realty taxes and borrowing costs directly attributable to the 
  development. Under the requirements of International Accounting Standard 40 ‑ Investment Property (“IAS 40”), IPUC is measured at 
  fair value at each reporting date, with the recognition of gains or losses in the income statement. If the fair value of IPUC is not reliably 
  determinable, but the Company expects the fair value of the property to be reliably determinable when construction is complete, it 
  measures that investment property under construction at cost until either its fair value becomes reliably determinable or construction is 
  completed (whichever is earlier). 
  
  *(iii) Borrowing costs related to IPUC*
  Although IPUC is measured at fair value, Killam’s policy is to present its Statements of Income and Comprehensive Income as if borrowing 
  costs related to the construction are capitalized. Borrowing costs directly attributable to the acquisition or construction of an asset that 
  necessarily takes a substantial period of time to get ready for its intended use or sale are recorded as part of the cost of the respective 
  assets. The interest is calculated using the Company’s weighted average cost of borrowings after adjusting for borrowings associated 
  with specific developments. Where borrowings are associated with specific developments, the amount is the gross interest incurred on 
  those borrowings less any investment income arising on their temporary investment. interest is capitalized from the commencement of 
  the development work until the date of substantial completion. The capitalization of borrowing costs is suspended if there are prolonged 
  periods when development activity is interrupted. Interest is also capitalized on the purchase cost of a site or property acquired specifically 
  for redevelopment but only where activities necessary to prepare the asset for redevelopment are in progress. The Company considers 
  substantial completion to have occurred when the property is capable of operating in the manner intended by management. 