The office block owned by Al-Taweel Establishment was originally held as an investment property for many years, suggesting that it meets the definition of an investment property under IAS 40, which states that an investment property refers to real estate held to earn rentals or for capital appreciation, or both. However, since management has committed to selling the office block, this changes the classification of the asset. According to IFRS 5, Non-current Assets Held for Sale and Discontinued Operations, an asset is considered held for sale when a plan to sell the asset has been approved and it is actively being marketed for sale. Given that the office block is being actively marketed for sale, even if the sale price is significantly above its current fair value, it would now fall under the category of a non-current asset held for sale under IFRS 5.

It is held for sale.