NOTES TO THE FINANCIAL STATEMENTS Year ended 31 December 2025 5 INVESTMENT PROPERTIES (CONT’D) The key assumptions used in estimating the recoverable amounts are set out below: 2025 China UK Australasia Capitalisation rate NA PBSA: 5.85% Commercial: 5.78% Residential: 4.50% Commercial: 5.75% Rental rate per bed per week NA PBSA: $308 to $313 NA Price per square metre (“psm”) Commercial: $319 to $3,879 NA Residential: $14,243 2024 China UK Australasia Capitalisation rate NA PBSA: 5.50% NA Rental rate per bed per week NA PBSA: $284 to $301 NA Gross development value NA NA Residential: $155 million Estimated cost to completion NA NA Residential: $67 million Price per square metre (“psm”) Commercial: $639 NA Residential: $12,402 Sensitivity analysis The Group’s impairment review is sensitive to changes in the key assumptions used. An increase in rental rate per bed per week, price psm or gross development value in isolation would result in a higher recoverable amount. An increase in capitalisation rate or estimated cost to completion in isolation would result in a lower recoverable amount. 152 | CITY DEVELOPMENTS LIMITED
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