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How are the Water lots handled? What about identification and improvements?

Water lots will be recorded as part of real estate data whether they are owned or leased by the Organization. If leased, they are considered to be lease-ins (UN as tenant) regardless of whether they are leased commercially, nominally or are under a right to use agreement. Wharf improvements are treated as leasehold improvements. However, capitalization of such improvements is determined by IPSAS parameters.