9 Net Income from Fair Value Adjustment of Investment Properties

The measurement of the investment properties led to a valuation loss as of June 30, 2024 of € -1,432.0 million (H1 2023: € -6,382.2 million) (see explanatory information in chapter [D18] Investment Properties). This includes € -12.9 million (H1 2023: € -52.1 million) for the measurement of right-of-use assets (IFRS 16).

Buildings under construction (new construction/development to hold) were completed during the reporting period and moved to the Rental portfolio. A fair value measurement is performed for the first time when the properties are completed. This resulted in a valuation effect of € 2.6 million as of June 30, 2024 (H1 2023: € 13.7 million).

The recognition and valuation of investment properties are explained in detail in the consolidated financial statements for 2023.