Ann: Finbar Completes 38 Storey Concerto Project, page-3

I'll not answer your question (because I would have to do the research), nor will I spend time supporting what I write here, but for what it's worth, I'll give the gist of what I think may happen.

FRI has a set process for selling off the plan, which includes contacting repeat investors who trust FRI. When presales reach a tipping point, say 60%, that suffices to proceed with construction using bank finance. Marketing may then be relaxed, and presales left to drift in with little effort expended. The money raised from the 60%+ presales rolls in soon after practical completion, which helps reduce the money lent by the banks, if not expunge the debt for that project completely. On completion of construction, the market demographic changes from off-the-plan buyers to inspect-first buyers, and with stock to show would-be buyers, marketing is ramped up – probably by the real estate agents commissioned to do so.

Once the building is 60%+ tenanted, it becomes business-as-usual buying for many would-be owners who like to get a better feel for what they are buying than a plan gives them. Settlement of presales substantially occurs within three or four months, and defaults are small (about 5% for the want of a number). For some potential buyers, even a completed building is daunting if substantially empty. Its like trapping sparrows, on first arrival a group of sparrows realise the surroundings are odd, so they grab seeds one at a time from the trap's perimeter, and quickly back off, but as soon as one or two sparrows relax and remain feeding within the trap, the rest join them without fear.