the business model, page-8

perhaps it can be viewed in line with the 'electrican' trade on a job site? i have worked on job sites b4 and in most scenarios ive seen, the electrical work is done well b4 fixtures and some fittings, flooring,painting,tiling,finshing and facing up the site (landscaping etc)? one building site i was at in bankstown once in sydney (about 10 floors), id estimate electricians had finished their work close to 6mths b4 the first occupant moved in. another one i worked on the lead time was closer to 12mths after the bulk of electricals had been done. and then took some mths after that to sell and occupy all apartments.

9 sites online in half yearly may perhaps also mean half of those were still relative vacant? im just speculating tho.