Term:
Land and buildings
Definition:
Land and buildings comprises all land and buildings located within an economy, except that owned by foreign governments (such as embassies) are, by convention, regarded as being owned by residents. If an actual owner is a non-resident, the owner is treated as if the ownership had been transferred to a resident notional institutional unit that is deemed to own the land and buildings. The non-resident has a financial investment in this notional unit, which is therefore a direct investment enterprise
Domain:
Finance
Source:
Glossary of Foreign Direct Investment Terms, OECD, 2001 – not published