ESR Group Limited Annual Report 2023 167 Notes to the Consolidated Financial Statements 31 December 2023 5. REVENUE, OTHER INCOME AND GAINS, NET (a) Revenue An analysis of revenue is as follows: 2023 2022 US$’000 US$’000 Rental income from investment property operating leases (note (i)) 71,992 91,626 Management fee 736,747 713,296 Construction income 56,250 10,735 Solar energy income 6,337 5,497 Total 871,326 821,154 Timing of revenue recognition 2023 2022 US$’000 US$’000 Rental income from investment property operating leases 71,992 91,626 Point in time Management fee 89,620 177,569 Over time Management fee 647,127 535,727 Construction income 56,250 10,735 Solar energy income 6,337 5,497 871,326 821,154 Note: (i) No variable lease payments exist in all rental contracts. Performance obligations Information about the Group’s performance obligations is summarised below: Construction services The performance obligation is satisfied over time as services are rendered. CORPORATE GOVERNANCE FINANCIAL STATEMENTS STRATEGIC REPORTS
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