28 Assets classified as held for sale

Assets classified as held for sale

2017   2016
AED’000   AED’000
At 1 January 125,215   125,215
Disposed assets (42,215)
Reclassified to investment properties (Note 29) (83,000)
 
125,215
   


During the year, the Group has disposed of an investment classified as assets held for sale with assets and liabilities of AED 42,215 thousand and AED 29,902 thousand respectively, at a selling price of AED 21,600 thousand. The gain recognised in the consolidated income statement under ‘other operating income’ is AED 9,287 thousand.

 

During the year the Group has decided to reclassify the remaining balance of AED 83,000 thousand to investment properties since the criteria to remain classified under assets classified as held for sale have not been met as at the reporting date (Note 29).