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Real Estate Properties under Development, Net
 12 Months Ended
Dec. 31, 2017
Real Estate [Abstract]  
Real Estate Properties under Development, Net

4.

Real Estate Properties under Development, Net

The following summarizes the components of real estate properties under development as at December 31, 2016 and 2017:

 

At December 31,

 

2016

 

 

2017

 

Building at cost

 

$

58,109

 

 

$

34,498

 

Less: accumulated depreciation

 

 

(40,814

)

 

 

(20,859

)

 

 

 

17,295

 

 

 

13,639

 

Construction in progress

 

 

9,773

 

 

 

27,420

 

Land use right

 

 

10,711

 

 

 

11,401

 

Net book value

 

$

37,779

 

 

$

52,460

 

 

The Company previously entered into an operating lease contract with a third party with respect to certain buildings with the carrying amount as shown below:

 

At December 31,

 

2016

 

 

2017

 

Buildings at cost

 

$

29,825

 

 

$

—

 

Less: accumulated depreciation

 

 

(17,163

)

 

 

—

 

Buildings, net

 

$

12,662

 

 

$

—

 

 

At December 31, 2016, scheduled minimum rental payments to be received for buildings leased to others were $1,897 and the lease term expired on October 31, 2017.