SINGAPORE: For the first time in two decades, there were no bids placed for a plot of land at Upper Thomson on Wednesday .
The 262,875 sq ft site is a a 99-year leasehold, with around 21,528 sq ft of commercial space at the first storey and a minimum of 1,000 sq m for a childcare centre. Industry experts appear unsurprised, however, at the lack of bids for the latest land sale despite its nearness to the Springleaf MRT station as developers growing wary to take risks because of higher interest rates, cooling measures and increasing costs.
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