I think now we can be sure the rejected bid for Marina Gardens Crescent wasn’t an isolated event. I’m talking about the one lonely bid that was made for a prime central site, which got turned down for being too low. And to reinforce that it wasn’t a fluke, we’re now seeing the same weak bids in River Valley and Upper Thomson. GuocoLand and Hong Leong were the only bidders for a land parcel near Springleaf MRT station, along Upper Thomson Road, for a bid price of $779.6 million (approx. $904.60 psf). This was way below projections of around $1,000 to $1,100 psf. I do wonder if the sales numbers of condos like Lentoria (19 per cent sold at launch) might have played a part here, in addition to growing developer worries. This was altogether unsurprising, given that GuocoLand already has such a major stranglehold in the area. Meanwhile, CDL and Mitsui Fudosan were also the sole bidders for a land...