Vela Bay is a 99-year leasehold development by Sing-Haiyi Group Pte. Ltd. Located along Bayshore Road in District 16, the development comprises 515 units across two 31-storey towers and enjoys direct access to Bayshore MRT station on the Thomson-East Coast Line.
What I find interesting about Vela Bay is that it is the first private residential launch within the new Bayshore precinct. This gives buyers early exposure to a large-scale waterfront transformation that will eventually introduce around 10,000 new homes. Combined with its sea-facing location and proximity to East Coast Park, Vela Bay offers a rare blend of coastal living and city connectivity. However, buyers should also recognise that future supply in Bayshore will be substantial, which means long-term performance will depend more on entry price and unit selection than scarcity alone.
Price Performance of Nearby Projects
The East Coast and Bayshore corridor has historically been supported by strong owner-occupier demand. Nearby projects such as Seaside Residences and Costa Del Sol provide useful benchmarks for comparison.
Vela Bay launched at an average price of approximately $2,886 psf. In comparison, recent transactions at Seaside Residences have mostly ranged between $2,200 psf and $2,500 psf, with some higher-floor sea-facing units crossing $2,700 psf. Though the price difference, Vela Bay achieved strong take-up rates, reflecting confidence in the new Bayshore precinct. Compared to nearby resale developments, buyers are paying a premium for newness, MRT connectivity and future transformation potential. Community discussions have also highlighted concerns about future supply and exit strategy, suggesting that buyers should adopt a longer-term perspective.
Overall, I view Vela Bay as a precinct play rather than a pure project play. Its eventual performance will depend heavily on how the Bayshore district matures over the next decade.
My Buy Smart Review of Vela Bay
| Location | I think Vela Bay enjoys one of the most attractive locations in the East. Sitting directly opposite East Coast Park and next to Bayshore MRT station, it combines coastal living with excellent accessibility. The area has traditionally been dominated by older condominiums and landed homes, making the new Bayshore precinct one of the most significant transformations along the East Coast in recent years. |
| Layout | Vela Bay offers a wide range of unit types, from compact units to larger family homes. With over 70% of units enjoying sea-facing views, orientation and stack selection will play an important role in long-term value. Buyers should pay close attention to view corridors and future developments within Bayshore, as these could affect privacy and outlook over time. |
| Facilities | With 515 units, Vela Bay strikes a balance between scale and exclusivity. The development is large enough to provide a comprehensive range of facilities while avoiding the density associated with mega developments. Combined with the waterfront setting, the project is likely to deliver a resort-style living experience that appeals strongly to owner-occupiers. |
| Amenities | Residents will enjoy immediate access to East Coast Park and are a short drive from Siglap, Katong, Parkway Parade and Bedok Mall. While the Bayshore precinct itself is still evolving, established amenities in the East provide strong support for daily living. As more homes are completed, retail and lifestyle offerings within Bayshore are expected to improve. |
| Good Schools | Families may appreciate the proximity to schools such as Temasek Primary School and Temasek Secondary School. Educational institutions have historically been an important demand driver in the East Coast area, supporting long-term owner-occupier demand. |
| Transport Convenience | Connectivity is one of Vela Bay’s strongest attributes. Bayshore MRT station sits virtually at its doorstep, providing direct access to Orchard, Marina Bay and the CBD via the Thomson-East Coast Line. Drivers also enjoy quick access to the ECP, making travel to Changi Airport and the city highly convenient. |
| Future Development Plans | The biggest story here is undoubtedly the Bayshore Master Plan. Over the next decade, the area will evolve into a major waterfront residential precinct with around 10,000 homes. New amenities, improved connectivity and a more vibrant neighbourhood are expected to emerge gradually. That said, I believe buyers should view these plans as long-term tailwinds rather than rely solely on transformation narratives. |
I think Vela Bay offers a compelling proposition for buyers seeking sea views, MRT convenience and long-term exposure to one of Singapore’s most exciting waterfront transformations. Its combination of East Coast lifestyle and city connectivity gives it strong owner-occupier appeal.
However, being the first launch in a new precinct also means buyers must account for future supply. Unlike mature estates where supply is limited, Bayshore will see many more projects in the coming years. As such, I believe the right unit and the right entry price will matter more than simply being an early buyer.
Buy Smart Pointers
1. Understand the precinct, not just the project.
Future Bayshore launches will become your competition. Compare pricing carefully and avoid overpaying simply because of first-mover advantage.
2. Prioritise view and orientation.
Sea-facing stacks and favourable orientations are likely to enjoy stronger long-term appeal.
3. Take a long-term perspective.
The transformation story will unfold over many years. Buyers should focus on the area’s fundamentals rather than expect immediate capital appreciation.
Interested to find out more? Want an analysis or the floor plans? Drop me a message and I will be more than glad to share.
| Developer | Sing-Haiyi Group Pte. Ltd |
| Address | Bayshore Walk |
| District | D16 – Bedok / Upper East Coast |
| Tenure | 99 years leasehold |
| No. of Units | 515 residential units |
| Expected TOP | Dec 2031 |
| Nearest MRT | Bayshore MRT (TE29) – approximately 100m |
| Popular School(s) within 1km | Temasek Primary School |