Developers defend sale of unbuilt homes to Far East

Galliard Homes has just marketed a new residential project in East London to prospective buyers in the UK and Singapore simultaneously.

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  1. Simon Harris: Political Correspondent

Off-plan sales 'essential part' of persuading banks to fund development

The opposition parties at City Hall have called on the mayor to back tighter controls on residential sales to overseas buyers. Galliard Sales Director David Galman said 70% of properties at Royal Gateway had been sold to domestic buyers.

Computer simulation of interior of homes Credit: Galliard Homes

David Galman said "off-plan" sales were an essential part of persuading banks to fund a development before building work could start.

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