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Annual Statements

Home Annual Statements Financial Statements 2013 Notes to the consolidated financial statements Notes to the consolidated balance sheet Assets held for sale

23. Assets held for sale

Land which is intended to be sold is presented as assets held for sale. At year-end 2011, this was the A4 zone West, an extensive logistics site adjacent to the A4 motorway to the south of the Amsterdam Airport Schiphol cargo zones. In December 1999 and December 2009, the municipality of Haarlemmermeer, Schiphol Real Estate B.V. and SADC decided in cooperation agreements (SOK I and SOK II respectively) to acquire and allocate plots in the A4 Zone West area.

The land acquired in 1999 is being financed equally by the three partners. A further 6.7 million euros of land will be contributed (including 2.2 million euros by Schiphol Real Estate B.V.).

During 2013, it became apparent that the land held for sale would not be disposed of within a year. Consequently, its classification was changed to commercial construction sites and the land has been included as Paved areas, roads etc. in Assets used for operating activities.