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Singapore’s Bayshore precinct is undergoing one of its most significant transformations in a generation — and Vela Bay is positioned right at the heart of it. A new 99-year leasehold residential development on Bayshore Road by developer Sing-Haiyi Garnet, Vela Bay offers approximately 480 units of waterfront-adjacent living in District 16, minutes from East Coast Park, and served by the upcoming Bayshore MRT station on the Thomson-East Coast Line (TEL). With an expected VVIP preview in late March 2026 and an official launch in early April 2026, now is the time to register — before the queues form.
What Is Vela Bay?
Vela Bay is a Government Land Sales (GLS) development arising from the Bayshore Drive GLS site — a substantial 5.74-hectare parcel with a Gross Plot Ratio (GPR) of 2.6, incorporating both residential and commercial components. The site was awarded to Sing-Haiyi Garnet, the Singapore arm of the Sing-Haiyi Group, a well-established developer with a track record of quality residential projects including The Gazania, The Lilium, and Sky Eden@Bedok.
Vela Bay will comprise approximately 480 residential units across a range of bedroom configurations, from compact 1-bedroom units targeting investors and young couples, to larger 3- and 4-bedroom units designed for families. A commercial component at the podium level will add retail and F&B convenience directly within the development, reinforcing the integrated lifestyle proposition.
For buyers evaluating new launch condos in Singapore in 2026, Vela Bay represents a rare opportunity to buy into a precinct that is explicitly earmarked for major urban transformation under the URA Master Plan — at OCR pricing that remains materially below Core Central Region (CCR) benchmarks. As part of the Singapore GLS tender 2026 pipeline, this site reflects the government’s deliberate strategy of opening up the Bayshore corridor for high-density residential and lifestyle development.
Bayshore Precinct — Singapore’s New Waterfront District
The Bayshore precinct is not simply a residential neighbourhood — it is a long-term urban transformation story that the Urban Redevelopment Authority (URA) has been building towards across multiple Master Plan revisions.
URA Vision: Under the URA Master Plan, Bayshore has been identified as a key growth node for the eastern corridor — envisioned as a vibrant, high-density precinct with waterfront promenades, improved cycling connectivity, mixed-use developments, and direct links to East Coast Park. This is Singapore’s answer to the demand for waterfront urban living, developed at scale and with long-term infrastructure support.
Thomson-East Coast Line (TEL) — Bayshore MRT: The upcoming Bayshore MRT station on the TEL is one of the most significant connectivity upgrades for the area. When operational, Bayshore MRT will provide direct rail access to the CBD (Marina Bay, Shenton Way), Orchard Road, and eventually join the North-South Line at Woodlands. For buyers considering transit-oriented investment, proximity to a new MRT station in a growing precinct has historically been one of the most reliable drivers of property value appreciation in Singapore.
East Coast Park Access: Vela Bay residents will enjoy some of Singapore’s most coveted recreational amenity — direct proximity to East Coast Park, Singapore’s most popular coastal park offering 15km of sea-facing greenways, cycling paths, beach, barbecue pits, and water sports facilities. For families and lifestyle buyers, this is a differentiating factor that no amount of condo facilities can fully replicate.
Connectivity to CBD: The East Coast Parkway (ECP) expressway provides fast, direct vehicle access to the CBD in under 20 minutes. Combined with the TEL MRT, Vela Bay’s District 16 location offers strong accessibility for professionals working in the financial district.
Indicative Price Guide & Unit Types
Based on comparable recent GLS launches in the OCR and the Bayshore/Siglap/East Coast corridor, indicative pricing for Vela Bay is estimated at $2,000–$2,300 PSF, subject to official confirmation at launch. This positions Vela Bay as a meaningfully more affordable waterfront alternative to CCR projects, while still accessing the lifestyle and appreciation upside of a precinct undergoing active transformation.
| Unit Type | Est. Size (sq ft) | Est. Price From |
|---|---|---|
| 1-Bedroom | ~450–520 sq ft | ~$900K – $1.20M |
| 2-Bedroom | ~650–800 sq ft | ~$1.35M – $1.85M |
| 3-Bedroom | ~900–1,100 sq ft | ~$1.90M – $2.55M |
| 4-Bedroom | ~1,200–1,500 sq ft | ~$2.50M – $3.50M |
All prices are indicative, unconfirmed, and subject to change without notice. Verify all pricing directly with the developer or appointed agents at time of launch.
Compared to CCR waterfront projects along Marina Bay or Sentosa Cove — where $3,500–$5,000+ PSF is standard — Vela Bay’s OCR pricing delivers a meaningful affordability advantage while accessing genuine waterfront-adjacent amenity. For buyers who want proximity to East Coast Park and a growing precinct without the CCR price tag, this entry point merits close attention.
Buyers considering financing should review our TDSR Singapore 2026 guide to understand borrowing limits, and our ABSD Singapore 2026 guide if purchasing a second or subsequent property.
VVIP Preview Registration — How to Secure Priority Access
The VVIP Preview for Vela Bay is expected in late March 2026, with the official public launch in early April 2026. Given Sing-Haiyi’s track record of strong launch-day sales (Sky Eden@Bedok sold 94% on launch day in 2022), demand for Vela Bay is expected to be significant — particularly from east-side buyers, upgraders, and investors drawn to the Bayshore transformation narrative.
Benefits of VVIP registration:
- First access to the price list — typically released 24–48 hours before public launch, giving registered buyers time to deliberate calmly
- Priority showflat appointments — dedicated viewing slots at times convenient to you, without launch-day crowds
- Best unit selection — high-floor, park-facing, and sea-view-adjacent stacks are typically the first to be chosen and the first to sell
- Direct developer representation — working through a registered developer-appointed agent means zero buyer commission and access to the full unit stack
- No obligation — VVIP registration is entirely free and does not commit you to any purchase
Alvin Tan (CEA Reg. No. R072324C, ERA Realty) is a developer-appointed agent for Vela Bay. Register via WhatsApp to receive floor plans, price lists, and personalised unit analysis based on your budget and objectives.
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CEA Reg. No. R072324C · ERA Realty Network Pte Ltd · Alvin Tan
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