Owners are set to receive between S$1.67 million and S$3.91 million for their properties, said marketing agent Huttons. The properties range from 1,001 sq ft for the smallest two-bedroom units to 3,272 sq ft for the four-bedroom apartments.

Built in 1985, Loyang Valley has about 55 years left on its 99-year lease. Located on a 840,648 sq ft plot of land, the site is zoned for residential use under the Master Plan and has a gross plot ratio of about 1.6. It can yield about 1.35 million sq ft in gross floor area upon redevelopment. Subject to planning approval, developers may build around 1,249 dwelling units, averaging 1,076 sq ft each.

The S$880 million guide price works out to a land cost of S$959 per square foot per plot ratio, inclusive of an estimated S$226 million in land betterment charges and S$246 million in a lease upgrading premium, after factoring in a 7 per cent bonus balcony gross floor area.

Gallant Tang, chief executive of SingHaiyi Group, said the company is pursuing the Loyang Valley site because, like Vela Bay, it is experiencing strong interest. The site is anchored by strong East Coast fundamentals and has clear and compelling long-term potential.

The new Loyang Valley project is poised to benefit from the broader transformation of the eastern region, including the expansion of Changi Airport, development of the Changi East Urban District, and the growth of nearby aviation and logistics hubs. Major infrastructural and industrial developments are expected in the Changi East area, including the Loyang Viaduct and the Cross Island Line, with a new Loyang MRT station next to the new condo.

Tang noted that the site has over 840,000 sq ft of land, which gives SingHaiyi a rare opportunity to create a distinctive living concept — a concept that is increasingly hard to find in new developments today, and one that will enhance the living experience in the development.

Previews for SingHaiyi’s 515-unit condominium Vela Bay in Bayshore began on 11 April, with prices starting above S$1.2 million. Sales bookings will start on 25 April.

The public tender for Loyang Valley at S$880 million, which was about S$100 million lower than its previous attempt in 2022, closed on 10 February without any bids. But when the site was offered for sale via private treaty, it saw interest from seven developers. The sale concluded successfully following timely guidance from the authorities, which provided greater certainty for all parties and was instrumental in allowing the deal to move forward, said Terence Lian, head of investment sales at Huttons.

The Loyang Valley deal ranks among the largest residential collective sale transactions in Singapore since 2007, when Farrer Court was sold for S$1.3 billion — still the largest en bloc sale on record. In July 2025, the High Court approved the S$810 million Thomson View sale to UOL and CapitaLand Development.

Excluding the Loyang Valley sale, the collective sales market has been subdued with only two transactions so far in 2026. A rear block of The Centrepoint was sold to a Frasers Property unit on 26 February for S$391.9 million. Other recent residential collective sales have been of a smaller scale, including the 24-unit River Valley Apartments that sold for S$56 million to a family office.