Discover Vela Bay: New Luxury Condos in Bayshore
In a significant development within Singapore’s real estate landscape, SingHaiyi has unveiled its latest condominium project, Vela Bay, located along the picturesque Bayshore Walk in District 16. As public previews commence, potential buyers are being drawn to this luxurious offering that combines modern living with scenic views.
Overview of Vela Bay
This impressive development features a total of 515 residential units distributed across two soaring 31-storey blocks. Set on a sprawling land area of approximately 10,497 square meters, Vela Bay boasts a gross floor area of about 47,442 square meters. With a generous gross plot ratio of 4.2, the project promises ample living space for its future residents.
Unit Pricing and Options
Vela Bay presents a diverse range of unit types catering to various buyer profiles. One-bedroom units start at prices exceeding S$1.2 million and encompass an area of 484 square feet. The two-bedroom options range from 592 to 689 square feet, priced from over S$1.4 million. For larger families or those seeking more space, three-bedroom units span between 883 to 1,033 square feet and are available starting at approximately S$2.2 million.
The availability does not stop there; there are also four-bedroom apartments ranging from sizes of 1,173 to 1,378 square feet starting at above S$3.1 million and expansive five-bedroom configurations measuring around 1,582 square feet beginning at about S$4.5 million. Additionally, the project will feature two luxurious penthouses each measuring 1,765 square feet; however, pricing details for these exclusive units remain forthcoming.
Market Reception
The initial response to Vela Bay has been overwhelmingly positive; the public preview attracted nearly 8,000 visitors over its opening weekend alone. This interest is indicative of the project’s appeal among a wide array of potential buyers including investors looking to capitalize on growing market opportunities as well as families eager for spacious homes in an attractive locale.
SingHaiyi anticipates considerable demand from individuals who may have missed out on previous developments in the vicinity such as Seaside Residences during its launch phase back in 2017.
A Strategic Development Initiative
Vela Bay marks an important milestone for Gallant Tang as his inaugural successful tender bid after assuming leadership as Group CEO for SingHaiyi in April 2025. In March of this year, the site was secured through competitive bidding for S$658.9 million—translating into a land rate per plot ratio that signifies strong investment potential.
Nearby Real Estate Trends
A look into surrounding property transactions reveals a dynamic market environment with only two new non-landed private home transactions recorded in the vicinity thus far this year, reflecting a median price around S$2,598 per square foot. Recent sales data shows fluctuations but underscores ongoing interest in urban housing options close to waterfront locales.
The current trend suggests that sub-sales and resales within the area exhibit median prices near S$1,550 per square foot for non-landed private homes—a figure worth noting for prospective investors considering entry into this emerging neighborhood.
Sales Bookings Opening Soon
Sales bookings for Vela Bay are set to commence on April 25th—a date marked by keen anticipation among interested parties ready to secure their slice of luxury living amid one of Singapore’s most desirable districts.
For more information regarding this exciting new opportunity and how you can become part of Singapore’s evolving residential landscape at Vela Bay, visit Dune Earn House Official.
Source: Original Article