REAL ESTATE PROJECTS UNDER DEVELOPMENT. In Thousand Baht Consolidated Financial Statements Separate Financial Statements As at September As at December As at September As at December 30, 2019 31, 2018 30, 2019 31, 2018 Cost of projects under development 33,492,905 30,143,968 26,497,304 23,906,169 Land held for development 3,503,528 5,321,916 2,415,526 3,925,407 Sample houses 247,768 259,704 209,691 222,352 House and condominium for sale 3,584,873 3,444,692 2,541,369 2,699,268 Construction materials 6,861 6,541 3,025 3,014 Total 40,835,935 39,176,821 31,666,915 30,756,210 Less Portion transferred to cost of sales (29,170,266) (27,683,253) (23,140,915) (22,199,814) Less allowance for decline in value of 11,665,669 11,493,568 8,526,000 8,556,396 real estate projects under development (1,988) (1,988) (1,767) (1,767) Net 11,663,681 11,491,580 8,524,233 8,554,629 In Thousand Baht Consolidated Financial Statements Separate Financial Statements As at September As at December As at September As at December 30, 2019 31, 2018 30, 2019 31, 2018 (For the nine- (For the year) (For the nine- (For the year) month) month) Finance costs capitalised during the period 204,691 276,232 175,515 252,152 Rates of interest capitalized (% per annum) 4.75 - 10.00 1.00 - 6.25 4.75 - 10.00 1.00 - 6.25 Land and construction thereon of the Group’s and Company’s projects have been mortgaged as collateral for loans and credit facilities from financial institutions.
REAL ESTATE PROJECTS UNDER DEVELOPMENT. In Thousand Baht Consolidated Financial Statements Separate Financial Statements As at December 31, 2019 As at December 31, 2018 As at December 31, 2019 As at December 31, 2018 Cost of projects under development 35,512,277 30,143,968 27,722,960 23,906,169 Land held for development 3,000,970 5,321,916 2,248,791 3,925,407 Sample houses 246,768 259,704 200,125 222,352 House and condominium for sale 2,694,769 3,444,692 2,003,200 2,699,268 Construction materials 3,107 3,023 3,035 3,014 Total 41,457,891 39,173,303 32,178,111 30,756,210 Less Portion transferred to cost of sales (29,587,811) (27,683,253) (23,430,554) (22,199,814) Portion transferred to property, plant and equipment (34,104) - (34,104) - 11,835,976 11,490,050 8,713,453 8,556,396 Less Allowance for decline in value of house and condominium for sale (1,592) (1,988) (1,371) (1,767) Net 11,834,384 11,488,062 8,712,082 8,554,629 In year 2019, the Group and the Company had decreased in the allowance for decline in value of real estate projects by Baht 0.40 million due to the sale during the year. In Thousand Baht Consolidated Financial Statements Separate Financial Statements As at December 31, 2019 As at December 31, 2018 As at December 31, 2019 As at December 31, 2018 Finance costs capitalised during the year 277,265 276,232 240,246 252,152 Rates of interest capitalized (% per annum) 4.75 - 10.00 1.00 - 6.25 4.75 - 10.00 1.00 - 6.25 Real estate projects under development recognised as an expense in ‘cost of sales of real estate project’: - Cost of sale 1,913,443 2,487,288 1,233,738 1,994,888 - Net realizable value adjustment (396) (12,505) (396) (5,987) Total 1,913,047 2,474,783 1,233,342 1,988,901 Land and construction thereon of the Group’s projects have been mortgaged as collateral for loans and credit facilities from financial institutions.
REAL ESTATE PROJECTS UNDER DEVELOPMENT. In Thousand Baht Consolidated Financial Statements Separate Financial Statements As at September 30, 2023 As at December 31, 2022 As at September 30, 2023 As at December 31, 2022 Cost of projects under development 4,197,970 4,580,354 2,235,944 2,573,318 House and condominium for sale 2,350,029 2,198,642 1,923,350 1,848,835 Construction materials 119 172 - 8 Total Less Allowance for decline in value of 6,548,118 6,779,168 4,159,294 4,422,161 house and condominium for sale (8,889) (11,391) (8,889) (11,391) Total 6,539,229 6,767,777 4,150,405 4,410,770 In Thousand Baht Consolidated Financial Statements Separate Financial Statements For the nine-month period ended September 30, 2023 2022 2023 2022 Finance costs capitalized during the period 173,704 173,799 117,582 122,143 Land and construction thereon of the Group’s and Company's projects have been mortgaged as collateral for loans, debenture and credit facilities from financial institutions, other persons and other company. In quarter 3, 2023, the Group has made are reversal entry for the allowance for decline in value of real estate projects under development in the amount of Baht 2.50 million (the Company only : Baht 2.50 million).
