DMIT_Annual_Report_2018_EN

N OTES TO THE C ONSOLIDATED F INANCIAL S TATEMENTS (Thousands of US dollars) Dar Al-Maal Al-Islami Trust 64 14. Fair values of land and buildings (continued) Fair value measurements using significant unobservable inputs (Level 3) for significant properties 2017 Tour de Cointrin Emile De Mot Al Khumrah Land Hidd Land At 1 January 43,325 1,884 53,711 3,278 Revaluation gains or losses recognised in profit or loss 343 956 16,178 (715) Exchange gains or losses recognised in other comprehensive income 1,804 - - - Disposals - (2,840) - - At 31 December 45,472 - 69,889 2,563 2017 Domaine Saint Alexandre Richmond Road Barbar Land Polish Assets Health Island At 1 January 13,232 3,351 62,115 37,921 76,507 Revaluation gains or losses recognised in profit or loss 8,125 (1) - 1,804 - Exchange gains or losses recognised in other comprehensive income - - - 8,185 - Disposals - - - (12,993) - At 31 December 21,357 3,350 62,115 34,917 76,507 The Group’s policy is to recognise transfers into and transfers out of fair value hierarchy levels as of the date of the event or change in circumstances that caused the transfer. On an annual basis, the Group engages external, independent and qualified valuers to determine the fair value of the Group’s land and buildings. The external valuations of the Level 3 land and buildings have been performed using a sales comparison approach or market comparable approach using rents and sales and a discounted cash flow.