Vela Bay Bayshore: Complete Agent Guide for 2026

Vela Bay is a 515-unit condominium at Bayshore Road in District 16, developed by SingHaiyi Group. It is the first private residential launch in the Bayshore precinct in over 26 years.

The VVIP preview opens on April 11, 2026. For agents with clients in the East Coast corridor, this is one of the most significant new launch opportunities this year. Here is a structured breakdown of the project's positioning, pricing logic, competitive landscape, and practical talking points for client conversations.

Why Vela Bay Matters

Three factors make this project stand out from the broader 2026 launch pipeline.

First-mover advantage in Bayshore. The Bayshore precinct is a 60-hectare master-planned township between East Coast Parkway and Upper East Coast Road. Under the HDB masterplan unveiled in October 2023, the precinct is earmarked for approximately 10,000 new homes, with 70% allocated to public housing and 30% to private developments. Vela Bay is the first private development to launch in the precinct, with limited private supply planned relative to the predominantly public housing allocation.

Direct MRT adjacency. The development sits directly next to Bayshore MRT station (TE29) on the Thomson-East Coast Line, which has been operational since June 2024. This is not a "future MRT" promise. The station is live, and commuters can reach the CBD (Marina Bay, Shenton Way) in approximately 12 to 15 minutes and Orchard in about 20 to 25 minutes.

Scarcity in East Coast private new launches. The East Coast/Marine Parade area has not seen a significant new private condo launch near the waterfront in years. Grand Dunman (also by SingHaiyi) at Dakota MRT is 89% sold. Coastline Residences at Amber Road is fully sold. Agents looking to offer East Coast clients a new launch option currently have limited inventory to work with.

Key Project Details

Developer context: SingHaiyi Group is also the developer behind Grand Dunman (1,008 units at Dakota MRT, 89% sold), Parc Clematis, The Gazania, The Lilium, and TMW Maxwell. The group swept 13 awards at the EdgeProp Excellence Awards 2024, including the Top Developer award. Two of their earlier projects, The Vales and City Suites, received CONQUAS STAR ratings from BCA for build quality.

Design philosophy: Vela Bay draws inspiration from luxury yachts, with fluid architectural lines intended to reflect the rhythm of coastal living. Facilities include a grand arrival plaza, seafront-facing gymnasium, grand pool, aqua pavilion, BBQ pavilion, children's pool and clubhouse, forest courtyard, garden lounge, and river trail path.

Location Deep Dive: Bayshore MRT, East Coast Park, and Marine Parade

Vela Bay occupies the western gateway of the Bayshore precinct, bounded by Bayshore Road, Bayshore Drive, and the East Coast Parkway (ECP). Here is what the location offers:

MRT Connectivity

Bayshore MRT (TE29) is approximately a 1-minute walk. The station opened June 23, 2024 and currently serves as the TEL terminus. The line extends to Sungei Bedok in 2026. Key travel times: Marina Bay ~12 min, Shenton Way ~13 min, Orchard ~20 to 25 min, all direct with no transfer.

Key Amenities

• East Coast Park: Directly accessible via park connectors
• Parkway Parade: 5 to 10 minutes by car
• Bedok Mall / Bedok MRT interchange: ~5 minutes by car
• Expressway access: Direct ECP access, PIE proximity

Schools

Based on marketing sources, schools near Vela Bay include:

• Temasek Primary School: Within 1km based on multiple sources
• Bedok Green Primary School: Within 2km
• Victoria School: Nearby secondary school
• Temasek Junior College: In the broader area

Note: Marketing distances are estimates. Advise clients to verify 1km enrollment priority at moe.gov.sg/schoolfinder once the project address is recognized.

How Much Does Vela Bay Cost?

Industry analysts estimate launch prices of approximately $2,500 to $2,800+ psf, based on the land acquisition cost of $1,388 psf per plot ratio. Official pricing has not been released. Here is the pricing context agents should understand.

Land acquisition cost: SingHaiyi won the Government Land Sales tender in March 2025 with the highest of eight bids at $658.89 million, translating to $1,388 psf ppr (per square foot per plot ratio). This was a record price for the Bayshore area, signalling strong developer confidence in the location. For a deeper look at how land cost translates to launch PSF, see our analysis of land cost and new launch pricing.

Estimated launch pricing: Industry analysts project average launch prices of approximately $2,500 to $2,800+ psf, with some estimates ranging up to $3,000 psf for premium sea-facing units. The wide range reflects uncertainty about how the developer will position the project relative to competitors.

Estimated breakeven: Based on a standard cost structure (land at $1,388 psf ppr, plus construction, marketing, financing, and developer margin), the breakeven likely sits around $2,000 to $2,200 psf. A launch price of $2,600+ psf would give the developer a healthy margin while still pricing competitively against District 15 freehold options.

Estimated Unit Quantums by Bedroom Type

Based on available floor plan data and the estimated $2,500 to $2,800 psf range, here are approximate quantum ranges agents can use for budget matching conversations. Official pricing will be confirmed at the April 11 VVIP preview.

Note: 2-Bedroom, 3-Bedroom, and 5-Bedroom sizes are from velabays.sg floor plan data. Other sizes are estimates based on typical new launch unit configurations. Quantums calculated at $2,500 to $2,800 psf.

ABSD Impact at Vela Bay Price Points

FTA exception worth knowing: US nationals, and nationals of Iceland, Liechtenstein, Norway, and Switzerland pay Singapore citizen ABSD rates under Free Trade Agreements. A qualifying American buying their first property here pays 0% instead of 60%, saving $1.2M on a $2M unit. Given East Coast's expat appeal, this is a high-value talking point.

For investor clients (likely 2nd property), the 20% ABSD for citizens ($400K on a $2M unit) or 30% for PRs ($600K) materially impacts total outlay. BSD at $2M is approximately $69,600.

How to access official pricing: Official developer pricing will be released at the VVIP preview on April 11, 2026. Agents should register interested clients now through the developer's marketing site (velabays.sg) or through their agency's internal channels. VVIP registrants receive early access to pricing, preferred unit selection via ballot, and potential early bird discounts (specific discount amounts have not been publicly confirmed). The showflat at 1039 Eunos Ave 3 is by appointment only.

How Vela Bay's Pricing Compares

Note: All prices are based on available transaction data and analyst estimates as of March 2026. Grand Dunman pricing from 99.co and developer promotional data. Coastline Residences average from EdgeProp transaction records. Amber Park from current resale listings on PropertyGuru. Seaside Residences average from recent 12-month transaction data.

Competitive Positioning: What Clients Are Cross-Shopping

East Coast buyers are comparing Vela Bay against a mix of new launches and resale options. Here is how to position each comparison. For a full overview of every 2026 launch, see our 2026 new condo launches cheat sheet.

Note: Tengah Garden Residences (862 units, D24, by Hong Leong/GuocoLand/CSC Land, $1,900 to $2,064 psf) shares the same April 11 VVIP preview date. It is not a location substitute for Vela Bay, but budget-conscious buyers may compare the two. The key differentiator: Vela Bay is an East Coast waterfront play with operational TEL connectivity, while Tengah is a suburban "forest town" at 30%+ lower psf with a JRL station still under construction.

Vela Bay vs Grand Dunman

• Grand Dunman: 1,008 units at Dunman Road, 99-year leasehold, by SingHaiyi. Launched July 2023. Average PSF $2,089 to $3,016. Dakota MRT (Circle Line). 89% sold as of late 2025. Expected TOP December 2028.
• Key difference: Grand Dunman is nearly sold out with limited floor and facing choices remaining. Remaining units are predominantly larger formats at higher psf. It sits in established District 15 near Dakota MRT but is not a waterfront play. Vela Bay offers fresh inventory, full unit selection across all bedroom types, Bayshore MRT on the newer TEL line, and over 70% of units oriented southward toward East Coast Park.
• Agent angle: For clients who missed Grand Dunman, Vela Bay is the logical next option from the same developer. SingHaiyi's track record at Grand Dunman (89% sold in under 2.5 years, EdgeProp Top Developer award) validates their ability to deliver. The key rebuttal if clients say "Grand Dunman was cheaper": the lowest transacted PSF at Grand Dunman's July 2023 launch was $2,089 (compact units on lower floors). Recent transactions are $2,800+ psf. Vela Bay's $2,500 to $2,800 range is competitive against Grand Dunman's current pricing.

Vela Bay vs Coastline Residences

• Coastline Residences: 144 units at Amber Road, freehold, by Sustained Land. Launched April 2019, completed 2023. Average resale PSF ~$2,822. Fully sold from developer.
• Key difference: Coastline is freehold with a boutique 144-unit scale. Tanjong Katong MRT (TE25) is a 3-minute walk, so both projects have strong TEL connectivity. The real differentiator is positioning: Coastline sits on Amber Road in an established enclave, while Vela Bay offers waterfront orientation toward East Coast Park and the Bayshore masterplan transformation upside. Vela Bay also has larger project amenities at 515 units vs Coastline's 144.
• Agent angle: Clients who prioritise freehold tenure above all else will lean toward Coastline resale at ~$2,822 psf. For clients where connectivity and lifestyle matter more than tenure, Vela Bay offers a brand-new product at a potentially lower psf with a 1-minute walk to Bayshore MRT.

Vela Bay vs Amber Park

• Amber Park: 592 units at Amber Gardens, freehold, by CDL. Launched May 2019 (after 2017 en bloc), TOP 2023. Current resale listings $2,684 to $3,415 psf.
• Key difference: Amber Park is CDL's premium freehold product in the established Amber Road enclave. It benefits from freehold tenure and a proven developer brand, but the nearest MRT (Tanjong Katong, TE25) is an ~8 min walk. At $2,684 to $3,415 psf resale, it sits $200 to $600+ above Vela Bay's estimated range.
• Agent angle: For clients comparing 99-year vs freehold: Vela Bay's estimated pricing undercuts Amber Park by 10 to 20% on a psf basis while offering direct MRT adjacency and a brand-new product. The freehold premium is real but increasingly less relevant for buyers who plan to hold for 20 to 30 years rather than perpetuity.

Vela Bay vs Emerald of Katong

• Emerald of Katong: 846 units at Jalan Tembusu (GLS site), 99-year, by Sim Lian. Launched November 2024. Average PSF ~$2,621. 99% sold on launch weekend. Expected TOP 2028.
• Key difference: Emerald of Katong was the blockbuster D15 launch of 2024 and is essentially sold out. It sits near Tanjong Katong MRT (TEL) in an established Katong neighbourhood with immediate access to i12 Katong mall. Vela Bay offers a waterfront position with East Coast Park proximity, Bayshore MRT adjacency, and the Bayshore masterplan transformation upside. Both are 99-year and TEL-connected, but Vela Bay trades Katong's established amenities for waterfront positioning and first-mover pricing in a transforming precinct.
• Agent angle: Emerald of Katong's ~$2,621 psf at 99% sold on launch weekend is the most powerful pricing validation for Vela Bay. It proves D15/D16 buyers accept $2,600+ psf for well-located 99-year projects on the TEL line. If a client says "$2,500 psf is too expensive for leasehold," point to Emerald of Katong selling out at a comparable price point with overwhelming demand (3,629 cheques for 846 units).

Vela Bay vs Meyer Blue

• Meyer Blue: 226 units at Meyer Road, freehold, by UOL and Singapore Land Group. Launched October 2024. Average PSF ~$3,260. Over 50% sold on launch weekend.
• Key difference: Meyer Blue is the premium freehold benchmark in D15. At $3,260 psf freehold versus Vela Bay's estimated $2,500 to $2,800 psf leasehold, the price gap is $400 to $700+ psf. Meyer Blue sits in the established Meyer Road enclave with sea views but lacks direct MRT adjacency (Katong Park MRT is ~6 min walk). Its 226-unit boutique scale also means fewer facilities compared to Vela Bay's 515-unit offering.
• Agent angle: Meyer Blue is the clearest "freehold vs leasehold" comparison. For high-budget clients who ask "why not just buy freehold?", the answer: freehold in D15 now starts at $3,000+ psf. Vela Bay offers superior MRT connectivity and comparable waterfront positioning at 20 to 25% less per square foot. The quantum difference on a 2-bedroom is $200K to $400K, which is material for loan servicing and ABSD calculations.

Vela Bay vs Seaside Residences (resale)

• Seaside Residences: 843 units at Siglap Link, 99-year, by Frasers Property. Launched April 2017, TOP 2021. Average resale PSF ~$2,280. Proven rental yield approximately 3.4%.
• Key difference: Seaside Residences is the closest apples-to-apples comparison: 99-year, waterfront, TEL-adjacent (Siglap MRT, TE28). At ~$2,280 psf resale, it is $200 to $500 below Vela Bay's estimated range, but the product is now 5 years old. Seaside offers immediate occupancy and proven rental income; Vela Bay offers progressive payment, brand-new facilities, and the Bayshore precinct transformation upside.
• Agent angle: For investor clients: Seaside's 3.4% yield is the benchmark to project Vela Bay's rental potential. For own-stay clients: Vela Bay's new launch premium of $200 to $500 psf over Seaside resale buys a brand-new unit with modern specs, but the client must wait until Dec 2030 for keys. Match recommendation to the client's timeline.

Vela Bay vs Costa Del Sol (resale)

• Costa Del Sol: 906 units at Bayshore Road (same road as Vela Bay), 99-year leasehold (lease from 1997), by Japura Development. Completed 2004. Average resale PSF ~$1,855. Rental yield approximately 2.8%.
• Key difference: Costa Del Sol is the most direct comparison buyers will make: same road, same 99-year tenure, at $700 to $900 less per square foot. However, the product is now 22 years old with approximately 70 years remaining on its lease. It predates modern condo design standards, lacks direct MRT adjacency (Bayshore MRT was not built until 2024), and does not benefit from the Bayshore masterplan transformation. Vela Bay offers a brand-new product with a full 99-year lease, contemporary facilities, direct MRT access, and first-mover positioning in the emerging precinct.
• Agent angle: Clients who raise Costa Del Sol are price-sensitive. The key rebuttal: both are 99-year leasehold, but Vela Bay starts with a full 99 years versus Costa Del Sol's ~70 remaining. A 22-year-old product will require renovation ($100K to $200K), maintenance fees are higher on ageing facilities, and the gap between Costa Del Sol's current psf and Vela Bay's launch psf reflects the new launch premium for modern specs, MRT adjacency, and the 29-year lease advantage. For investors, Costa Del Sol's 2.8% yield also sits below what a new, MRT-adjacent project should achieve at maturity.

Vela Bay vs Bayshore Drive Integrated Development (upcoming)

• Bayshore Drive Integrated Development: A confirmed 1H2026 GLS site on the Confirmed List at Bayshore Drive, featuring approximately 1,280 residential units integrated with 22,500 sqm of commercial space and a bus interchange, connected to Bedok South MRT (TEL). The tender has not yet been awarded.
• Key difference: This mega-development will be the largest project in the Bayshore precinct, significantly bigger than Vela Bay's 515 units. However, it is still at the GLS tender stage with no developer, no pricing, no design, and no confirmed launch timeline. Realistically, it could launch in 2028 or later, with TOP potentially around 2032 to 2033.
• Agent angle: This is the #1 buyer objection agents should prepare for: "Should I wait for the bigger integrated project?" The response: Vela Bay offers confirmed pricing, confirmed design, immediate unit selection via ballot, and first-mover benchmark pricing in the precinct. The integrated development's land cost will almost certainly exceed Vela Bay's $1,388 psf ppr (given rising land costs and the integrated component), meaning its launch price will likely sit above Vela Bay's. Buying Vela Bay now locks in the lowest entry point in Bayshore's private market.

Is Vela Bay a Good Investment?

Vela Bay offers estimated gross rental yields of 2% to 3.4% based on comparable East Coast condos, with multiple long-term capital appreciation drivers. Here are the key numbers and context for clients evaluating Vela Bay as an investment.

Rental Yield Potential

District 15/16 condos in the East Coast area currently deliver gross rental yields of approximately 2% to 3.4%, according to data from PropertyGuru, Global Property Guide, and various market analyses. Seaside Residences, the closest comparable completed project, achieves approximately 3.4% gross yield.

Vela Bay's rental yield potential will depend on the entry price and achievable rents at TOP in December 2030. At an entry of $2,600 psf for a 2-bedroom unit of approximately 689 sqft (estimated from available floor plan data), the purchase price would be approximately $1.79 million. To achieve a 3% gross yield, monthly rent would need to reach approximately $4,480.

Whether this rent level is achievable by 2030 depends on broader market conditions, but the East Coast rental market has several structural advantages:

• Strong expatriate demand: The East Coast corridor is one of Singapore's most popular locations for expatriate tenants, drawn by the lifestyle, beach proximity, international schools, and F&B scene.
• TEL connectivity premium: Properties near operational MRT stations command rental premiums. Bayshore MRT gives tenants direct access to the CBD without needing a car.
• Limited new supply: With limited private supply planned in the Bayshore precinct (only 30% of the 10,000 homes are private), rental competition from newer buildings will be constrained.

Capital Appreciation Drivers

Several long-term factors support capital growth:

• Bayshore masterplan transformation: The 10,000-home precinct is one of Singapore's most significant new housing zones. As the estate matures with completed HDB blocks, amenities, and park connectors, property values in the area are expected to benefit.
• Long Island project: URA's Long Island initiative will reclaim approximately 800 hectares of land off Singapore's East Coast for coastal protection and future development. This long-term project could significantly reshape the East Coast waterfront.
• TEL Stage 5 completion: The extension of the Thomson-East Coast Line beyond Bayshore (via Bedok South to Sungei Bedok) in 2026 will improve network connectivity further.
• First-mover pricing: As the first private condo in the precinct, Vela Bay's launch pricing becomes the benchmark. Future private launches in Bayshore will likely price above Vela Bay, providing a natural floor for resale values.

Who Is the Ideal Buyer?

Four buyer profiles align strongest with this project.

Risks and Objections to Prepare For

Experienced buyers will raise these concerns. Agents who address them proactively build trust and close faster than those who only pitch the positives.

Precinct Maturity Timeline

Agent Talking Points

Here are the key angles to use in client conversations, structured by scenario.

TOP Timeline

Expected TOP is December 2030, giving a roughly 4.5-year window from the April 2026 preview to key collection.

Payment schemes: Standard progressive payment applies by default. A Deferred Payment Scheme (DPS) may be available, deferring the bulk of the purchase price until TOP at a price premium (exact premium varies by developer and project; confirm with the developer at preview). DPS is particularly relevant for upgraders who plan to sell their current property only after Vela Bay is completed, as it avoids the dual-mortgage burden during construction. Confirm DPS availability and exact premium with the developer at preview.

For investor clients, the 4.5-year carrying cost before rental income starts is the key consideration. Under progressive payment, factor in mortgage interest on staged drawdowns plus maintenance contributions during construction. For context on current rates, see our guide to SORA and mortgage rates in 2026.

Frequently Asked Questions

Key Takeaways for Agents

• Scarcity play: First private condo in Bayshore in 26+ years, with limited planned private supply in a 10,000-home precinct.
• Operational MRT: Bayshore MRT (TE29) is live since June 2024. This is not a future promise.
• Competitive pricing: Estimated $2,500 to $2,800 psf undercuts District 15 freehold resale options while offering a brand-new product.
• Developer track record: SingHaiyi's Grand Dunman success (89% sold, EdgeProp Top Developer) validates their capability.
• Multiple buyer angles: Lifestyle buyers, HDB upgraders, and investors all have legitimate reasons to consider Vela Bay.
• Long-term upside: Bayshore masterplan, Long Island project, and TEL extension all support capital appreciation.
• Prepare for the Bayshore Drive question: The upcoming ~1,280-unit integrated development at Bedok South MRT is unawarded and years away from launch. Its land cost will likely exceed $1,388 psf ppr, making Vela Bay the first-mover pricing benchmark in the precinct.
• Know the buying costs: ABSD at 20% for citizens' 2nd property ($400K on a $2M unit) and the FTA exception for US/Swiss/Nordic nationals (0% instead of 60%) are critical talking points for different buyer profiles.

For more on managing high-volume client conversations during launch season, read our WhatsApp follow-up system for property agents.

Sources

• HDB Masterplan for Bayshore Estate (October 2023)
• Bayshore MRT Station, Wikipedia
• LTA Thomson-East Coast Line
• Vela Bay Official Marketing Site (SingHaiyi Group)
• Grand Dunman on 99.co
• Coastline Residences on EdgeProp
• Amber Park on PropertyGuru
• Seaside Residences on PropertyGuru
• SingHaiyi Group: Building an Enduring Legacy (SIAS)
• Singapore Rental Yields (Global Property Guide)
• Emerald of Katong on 99.co
• Tembusu Grand on 99.co
• Meyer Blue on 99.co
• 1H2026 GLS Programme (EdgeProp)
• ABSD Rates (IRAS)
• BSD Rates (IRAS)