12 Investment property under construction
| | | 2015 | 2014 | 2013 |
At the beginning of the year | | 3,962 | - | - |
Investments | | 4,605 | 3,962 | - |
Transfer to investment property | | (8,567) | - | - |
Net gain (loss) from fair value adjustments on investment property under contruction | | - | - | - |
In profit and loss | | - | - | - |
In other comprehensive income | | - | - | - |
Transfers out of level 3 | | - | - | - |
At the end of the year | | - | 3,962 | - |
The investment property under construction relates to the project Ingenhouszhof in Amsterdam. The total budget for this project amounts to € 11 million through 2015.