URA

115 (expressed in Hong Kong Dollars) NOTES TO THE FINANCIAL STATEMENTS 5. Revenue and other income, net (a) Revenue Revenue recognised during the year represents: 2018 2017 $’000 $’000 Upfront premium from property developers 12,582,531 2,022,474 Share of property development surplus on  joint development projects 1,128,160 1,249,341 Sale of properties * 157,217 1,762,704 13,867,908 5,034,519 * For 2016/17, the amount included sales proceeds of certain flats at Kai Tak sold under Subsidised Sale Flat Scheme at 86% of the market value assessed by the Authority. (b) Other income, net Other income, net recognised during the year represents: 2018 2017 $’000 $’000 Interest income 319,899 244,444 Rental income 92,953 41,496 Miscellaneous income 3,573 970 Net loss on investments at fair value through profit or loss (2,511) (734) Gain/(loss) on disposal of property, plant and equipment 40 (2,479) Net foreign exchange gain 37,081 6,732 451,035 290,429