About Vela Bay
Vela Bay, new launch condo by Singhaiyi, and the first private residential project in the upcoming Bayshore precinct, a key transformation zone along Singapore’s East Coast.
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Located directly next to Bayshore MRT (TEL), it offers strong connectivity to the CBD alongside coastal living near East Coast Park. As one of the earliest developments in the area, it is positioned to benefit from long-term price growth as Bayshore develops.
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The site was secured via a highly competitive GLS tender (8 bids) at ~$1,388 psf ppr, reflecting strong developer confidence in the location.
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Set on a 99-year leasehold site (~112,992 sq ft) with around 515 units, Vela Bay is suited for both own-stay and mid-term investment, particularly for buyers entering early ahead of the precinct’s full transformation.
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About the Developer – SingHaiyi Group
Vela Bay is developed by SingHaiyi Group in partnership with Haiyi Holdings, combining local development expertise with strong financial backing.​
SingHaiyi is an established developer with a diversified portfolio across Singapore and overseas, known for strategic land acquisition and market-timed launches.​ Their involvement in Vela Bay supports the project’s positioning as a well-capitalised, competitively acquired development within the high-demand Bayshore precinct.