Post a Comment On: Brisbane Apartment

From Ariadne's report to the ASX dated 27 February 2008:The 192 unit Skyline project was completed in October 2007. As at 31 December 2007, the project was 65% settled. Currently, 24 units remain to be sold.Ariadne expects a degree of volatility in the SEQ property market over the next 12 months.(On 13 November 2007, Ariadne reported that the Skyline project was 80% sold and that settlement was expected on the week starting 26 November 2007.)Why, if it was 80% sold as at November, was it only 65% settled as at the end of December? Did 15% of the sales fail to settle? Or are these insider sales with delayed settlement?