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| 9 | The following are examples of items that are not investment property and are therefore outside the scope of this standard: (a) property intended for sale in the ordinary course of business or in the process of construction or development for such sale (see IAS 2 Inventories), for example, property acquired exclusively with a view to subsequent disposal in the near future or for development and resale; (b) property being constructed or developed on behalf of third parties (see IAS 11 Construction contracts); (c) owner-occupied property (see IAS 16), including (among other things) property held for future use as owner-occupied property, property held for future development and subsequent use as owner-occupied property, property occupied by employees (whether or not the employees pay rent at market rates) and owner-occupied property awaiting disposal; (d) property that is being constructed or developed for future use as investment property. IAS 16 applies to such property until construction or development is complete, at which time the property becomes investment property and this standard applies. However, this standard applies to existing investment property that is being redeveloped for continued future use as investment property (see paragraph 58); (e) property that is leased to another entity under a finance lease.

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Source: EUR-Lex (Cellar) · retrieved 2026-11-08 · Text as adopted (Official Journal); later amendments are not incorporated in this text.