In 2013, Robinsons started the construction of a mall which is to be leased out under various operating leases. The construction was completed at the end of 2014 at a total cost of $29 370 874. Robinsons operation started at the beginning of 2015. The mall has an estimated useful life of 20 years. Robinsons uses the cost model and straight line method of depreciation. 

On December 31, 2016, the mall was estimated to have a fair value of $28 000 000. The mall has a total leasable space of 1 141 sq. meters. However, a 5 sq. meter space is used as office for administering the mall. How much is presented as investment property in Robinsons December 31, 2016 financial statements?