EC3: Nature of Entity's Business

Maximum Score

Not scored

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Select the entity's core business:

Assessment Instructions

Intent: What is the purpose of this indicator?

The entity’s primary business activities during the reporting year is used to determine the comparison group.

Input: How do I complete this indicator?

Select the option applicable to the reporting entity.

Terminology

Major Renovations

Alterations that affect more than 50 percent of the total building floor area or cause relocation of more than 50 percent of regular building occupants. Major renovation projects refer to buildings that were under construction at any time during the reporting year.

New Construction

Includes all activities to obtain or change building or land use permissions and financing. Includes construction work for the project with the intention of enhancing the property’s value. Development of new buildings and additions to existing buildings that affect usable space can be treated as new constructions. New construction projects refer to buildings that were under construction at any time during the reporting year.

Standing Investments

Real estate properties where construction work has been completed and which are owned for the purpose of leasing and producing rental income. The level of occupancy is not relevant for this definition. Also known as operating buildings.

Validation: What evidence is required?

No evidence required.

Scoring

This indicator is not scored.

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