Previews for SingHaiyi’s new Bayshore condominium Vela Bay have begun, with prices starting above S$1.2 million for one-bedroom units. Located along Bayshore Walk in District 16, the 99-year leasehold development houses 515 units across two 31-storey blocks. The public preview that began on 11 April drew nearly 8,000 visitors over the opening weekend, with sales bookings set to start on 25 April.
Two 31-storey blocks
1-bed starting price
Expected avg psf
Preview visitors
What Unit Types and Pricing Does Vela Bay Offer?
The project spans a total land area of 10,497 square metres with a gross floor area of 47,442 sq m and a plot ratio of 4.2. More than 70 per cent of the 515 units — 372 units — are two and three-bedders. Four-bedders account for 88 units (17.1 per cent), followed by 27 one-bedders (5.2 per cent) and 26 five-bedders (5 per cent). The project also includes two penthouses of 1,765 sq ft each, though indicative pricing has not been released.
Prices for one-bedders of 484 sq ft start from above S$1.2 million. Two-bedders, ranging from 592 to 689 sq ft, are priced from over S$1.4 million. Three-bedders of 883 to 1,033 sq ft start upwards of S$2.2 million. Four-bedroom units, sized between 1,173 and 1,378 sq ft, are priced from above S$3.1 million. Five-bedders of 1,582 sq ft start at about S$4.5 million.
The developer has yet to release an average psf pricing for Vela Bay. Market watchers expect the number to range from S$2,600 to S$2,800 psf.
Who Is Behind Vela Bay and How Did It Win the Site?
The project is Gallant Tang’s first successful tender bid before taking on SingHaiyi’s group CEO role in April 2025. The group outbid seven others for the Bayshore site — the first state land parcel to be offered in the new Bayshore precinct — in March 2025, with a S$658.9 million offer. This translates to a land rate of S$1,388 psf per plot ratio.
SingHaiyi expects demand from a broad mix of buyers, including investors, upgraders and families from nearby landed housing enclaves. Potential buyers may also include those who missed out on units at the nearby Seaside Residences when it launched in 2017, SingHaiyi added.
Figures from URA Realis showed just two transactions for new non-landed private homes, excluding ECs, in Vela Bay’s vicinity in the year thus far, with a median price of S$2,598 psf. Most recently, a 764 sq ft unit at the freehold Bagnall Haus changed hands at S$1.9 million or S$2,540 psf. Meanwhile, sub-sales and resales of non-landed private homes in the area recorded a median price of S$1,550 psf, with the latest transaction in early April for a 1,227 sq ft unit at the 99-year leasehold Casa Merah for S$1.9 million or S$1,548 psf.
Frequently Asked Questions
What are the prices for Vela Bay condo in Bayshore?
Prices for one-bedders of 484 sq ft start from above S$1.2 million. Two-bedders (592-689 sq ft) from over S$1.4 million. Three-bedders (883-1,033 sq ft) from S$2.2 million. Four-bedders (1,173-1,378 sq ft) from above S$3.1 million. Five-bedders of 1,582 sq ft start at about S$4.5 million.
How many units does Vela Bay have?
Vela Bay has 515 units across two 31-storey blocks. More than 70% of units (372) are two and three-bedders. The project spans 10,497 sq m of land with a gross floor area of 47,442 sq m and plot ratio of 4.2.
Where is Vela Bay located?
Vela Bay is along Bayshore Walk in District 16, within the new Bayshore precinct. It is the first state land parcel offered in this precinct, won by SingHaiyi in March 2025 with a S$658.9 million bid at S$1,388 psf per plot ratio.
When do Vela Bay bookings start?
Sales bookings for Vela Bay will start on April 25, 2026. The public preview began on April 11 and drew nearly 8,000 visitors over the opening weekend.
What is the expected average psf for Vela Bay?
Market watchers expect average psf pricing to range from S$2,600 to S$2,800 psf. Nearby resale transactions have recorded median prices of around S$1,550 psf, while a new unit at Bagnall Haus transacted at S$2,540 psf.
Source: The Business Times, 15 April 2026. This article has been rewritten and adapted by AsianPrime Properties for educational and informational purposes.
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