Notes to the Condensed Interim Financial Statements 15. Right-of-use Assets The Group (acting as lessee) leases land, offices, warehouses and equipment. Except for certain long-term leasehold land in Hong Kong, rental contracts are typically made for fixed periods of 1 to 50 years but may have extension and early termination options. Lease terms are negotiated on an individual basis and contain a wide range of different terms and conditions. The recognised right-of-use assets relate to the following types of assets: 30th June 31st December 2023 2022 HK$M HK$M Leasehold land held for own use 2,512 2,340 Property 174 142 2,686 2,482 Additions to right-of-use assets during the six months ended 30th June 2023 were HK$56 million (30th June 2022: HK$9 million; year ended 31st December 2022: HK$107 million). Right-of-use assets acquired at the acquisition of subsidiary companies during the six months ended 30th June 2023 were HK$105 million (30th June 2022: Nil; year ended 31st December 2022: Nil). During the six months ended 30th June 2023, total cash outflow for leases was included in the consolidated statement of cash flows as (a) interest paid of HK$11 million (30th June 2022: HK$9 million; year ended 31st December 2022: HK$19 million) under “operating activities”, (b) payment for short-term and low-value assets leases of HK$16 million (30th June 2022: HK$16 million; year ended 31st December 2022: HK$32 million) under “operating activities” and (c) principal elements of lease payments of HK$38 million (30th June 2022: HK$33 million; year ended 31st December 2022: HK$66 million) under “financing activities”. 68 Swire Properties Limited Interim Report 2023