December 31 | |||||||||
2017 | 2016 | ||||||||
NIS in millions | |||||||||
Balance as of January 1 | 56,550 | 71,404 | |||||||
Acquisitions and capital expenditures | 1,913 | 4,348 | |||||||
Transfer from (to) investment property under development, net | (25 | ) | 775 | ||||||
Dispositions | (1,712 | ) | (1,440 | ) | |||||
Transfer to assets held for sale due to discontinued operation | - | (19,754 | ) | ||||||
Deconsolidation | (23,272 | ) | - | ||||||
Transfer to fixed assets | (20 | ) | - | ||||||
Valuation gains, net *) | 560 | 2,189 | |||||||
Foreign exchange differences | (1,147 | ) | (972 | ) | |||||
Balance as of December 31 | 32,847 | 56,550 | |||||||
Composition: | |||||||||
Investment property | 32,428 | 55,982 | |||||||
Assets classified as held for sale (Note 7) | 419 | 568 | |||||||
32,847 | 56,550 |
*) | In 2017, includes a net revaluation gain of NIS 500 million which was recognized in profit or loss as part of net income from discontinued operations, net. In 2016, includes a net revaluation gain of NIS 1,837 million which was recognized in profit or loss as part of net income from discontinued operations, net. |