A limited company engaged in construction business and carried out following transactions during the year. The manager of the company requested you to advise on how to recognize them according to the standards.

i$.$ During the year, the company constructed apartments in a gated community with the intention of renting out.

ii$.$ The company also finished a project of building a $3$BHK for his client.

iii. The last job was building a small warehouse for their own purpose, like using it for storing equipment and inventories like cement bags, glues, etc.

Required,

As requested by the company, define what investment property is as per IAS$40$ and advise on how to recognise the above transactions as per relevant standards.