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Notes to the Consolidated Financial Statements31 December 2024ESR Group Limited Annual Report 2024171STRATEGIC REPORTSCORPORATE GOVERNANCEFINANCIAL STATEMENTS5.REVENUE, OTHER INCOME AND (LOSSES)/GAINS, NET (continued)(a)Revenue (continued)Performance obligations (continued)Management servicesFor base management, asset management and development management fees, the performance obligation is satisfied over time as services are rendered. For acquisition/disposal and leasing fees, the performance obligation is satisfied at a point in time upon the successful acquisition/disposal of properties and carrying out leasing services, as the customers only receive and consume the benefits provided by the Group upon successful acquisition/disposal and provision of leasing services. For promote fee, the performance obligation is satisfied when the real asset investment funds exceed certain specified hurdles and it is highly probable that a significant reversal will not occur.20242023US$%u2019000US$%u2019000Revenue recognised from performance obligations satisfied (or partially satisfied) in previous periods:Management fee%u2013173,152Solar energy salesPerformance obligations in the contract are the provision of electricity power through the solar panels to electric power companies. They are provided continuously over the contractual period, and the services in the contract represent a single performance obligation. The electric power companies simultaneously receive and consumes the benefits provided by the Group.The amounts of transaction prices allocated to the remaining performance obligations (unsatisfied or partially unsatisfied) as at 31 December 2024 and 2023 are as follows:20242023US$%u2019000US$%u2019000Within one year27,36871,550After one year78,13823,016105,50694,566The amounts of transaction prices allocated to the remaining performance obligations relate to construction services that are to be satisfied within three years, of which the amounts disclosed above do not include variable consideration which is constrained; and promote fee relates to management services to which management has exercised judgement in applying constraint on the recognition of the promote fee income.