A high-profile developer behind one of three projects to receive government backing says their apartment complex would have been left half-finished without the certainty provided by the Crown underwrite.

In October last year, the Government announced it would support the construction sector through a residential development underwrite programme, committing the Crown to buy any homes a developer was unable to sell on the market after an agreed period.

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Sam Sachdeva is Newsroom’s national affairs editor, covering foreign affairs and trade, housing, and other issues of national significance. More by Sam Sachdeva