Galliard boss Stephen Conway says he has never sold so many off-plan in one day —at least, not since 1994, when buyers queued outside his development within the old GLA offices opposite Parliament.

Singaporeans slapped down 20% deposits on apartments in the 46-storey “twisting tower” at Baltimore Wharf, pictured. Almost £7 million was raised. Sales prices in Singapore averaged £764 per square foot says Conway. The buyers may be unaware – but they are helping fund construction.

When selling agent Jones Lang LaSalle sets up a stall in Kuala Lumpur this weekend, the financial target of pre-selling 150 of the flats may be reached. That will trigger lending guarantees. Loans will pay half the £100 million building costs. The target sales price for all 330 flats is £175 million.

The 150-metre tower designed by Skidmore, Owings and Merrill will soar from ground which once held a large tin shed called the London Arena. Conway and Paul White paid £30 million for the site six weeks ago. Subtract that and £100 million building costs from £175 million and the result should be a profit of £45 million from land where London Dockland Development set up in the early Eighties. Then the desolate plot was worthless.