Vela Bay Developer

Bayshore Walk Pte. Ltd., a Joint Venture led by SingHaiyi Group

Bayshore Walk Pte. Ltd. (UEN 202517243M, Housing Developer Licence C1542) is the developer of record for Vela Bay (首航), a 515-unit private condominium at 1 and 3 Bayshore Walk, Singapore 469861 and 469876, in District 16. The company is a joint venture led by SingHaiyi Group, alongside Haiyi Holdings Pte. Ltd., the Tang family vehicle that holds the majority shareholding in SingHaiyi, and Chuan Capital Pte. Ltd. as financial partner. Development and delivery sit with SingHaiyi. The development comprises two 31-storey residential towers, Block 1 and Block 3, carrying 18 stacks between them at nine units per core on a typical floor, on a 10,497.3 sqm (112,992 sqft) site held on a 99-year leasehold commencing 25 June 2025. Total gross floor area is 47,442 sqm, a plot ratio of 4.52 inclusive of PES, balcony and indoor recreation space bonus GFA, against a zoned plot ratio of 4.2 which excludes that bonus.

Two company names appear in the public record for this site, and they are not interchangeable. The land was tendered for by Sing-Haiyi Garnet Pte. Ltd., a joint venture of SingHaiyi Group and Haiyi Holdings. Bayshore Walk Pte. Ltd. is the separate vehicle formed to develop Vela Bay, and it is this company that holds the Housing Developer Licence and the project account, and against which a buyer contracts. Chuan Capital came into the structure at that second stage.

The Bayshore Road parcel on which Vela Bay stands, Lot 11342L of Mukim 27, was the first private housing Government Land Sales site released in the 60-hectare Bayshore precinct. Its tender closed on 18 March 2025 and drew eight bids. The SingHaiyi-led joint venture secured the site with the top bid of $658.89 million, equivalent to $1,388 per square foot per plot ratio. The second-highest bid, from Sing Holdings, came in at $653.53 million ($1,377 psf ppr), 0.82% below the winning figure, and the third, from City Developments, at $620.8 million ($1,308 psf ppr). What that tells a buyer is that three established developers priced the same site within roughly 6% of one another, so the land cost underlying Vela Bay reflects a shared reading of the precinct rather than a single optimistic bid. What it means for pricing is set out on the Vela Bay price page. Vela Bay is the first of the roughly 3,000 private homes planned for the precinct.

The project team appointed by Bayshore Walk Pte. Ltd. is led by P & T Consultants Pte Ltd as architect and Ecoplan Asia Pte Ltd as landscape architect, with Sujonohun Pte Ltd as project interior designer, KCL Consultants Pte Ltd as C&S engineer, Rankine & Hill (S) Pte Ltd as M&E engineer, Threesixty Cost Management Pte Ltd as quantity surveyor, and China Communications Construction Co Ltd (Singapore Branch) as main contractor. Allen & Gledhill LLP acts as conveyancing solicitor, and the project account is held with UOB Ltd for Bayshore Walk Pte. Ltd., Project Account No. 761-322-281-6. Expected Vacant Possession is 31 December 2031, with expected Legal Completion on 31 December 2034. Full particulars, including the stack-by-stack breakdown, room dimensions and fittings schedule, are set out in the Vela Bay Buyer’s Guide.

SingHaiyi Group

Lead Developer: Residential Development and Delivery

SingHaiyi Group is a Singapore property developer whose business spans residential development alongside property investment, hospitality and management services, with a footprint across Singapore, Australia and New Zealand, the United States, Malaysia and the Maldives. The combination of development activity with income-producing commercial and hospitality assets is the diversification the group points to as its buffer across market cycles, and it operates under the philosophy 精誠存信佳業傳承, a commitment to sincerity, trust and building a legacy that endures.

The group’s Singapore residential record covers Grand Dunman, Parc Clematis, SORA, TMW Maxwell, The Collective at One Sophia, Kopar at Newton, Skywaters Residences, Parc Komo, 9 Penang Road, The Gazania, The Lilium and The Vales. The group won the Singapore Prestige Brand Award in 2020 and 2021.

Construction Quality on the Public Register

SingHaiyi Group holds CONQUAS Band 1, the top rating on BCA’s Quality Housing Portal, on a scale running from Band 1 for a very low incidence of major defects down to Band 6 for a very high one. Construction quality is one of the few things about a developer a buyer can verify independently rather than take on trust, and the band comes from BCA’s own inspection of completed work together with validated homeowner feedback received after handover, rather than from anything a developer says about itself.

A firm’s band reflects its project track record over the preceding six years. As at the portal’s 1 August 2026 update, seven SingHaiyi projects were listed: two banded at Band 1, The Gazania and The Lilium, one at Band 2, and four still under assessment, meaning assessment has been taken up and remains ongoing. Because projects roll out of the six-year window as newer ones enter it, the portal is worth checking directly rather than relying on a figure quoted on any sales page, including this one.

Awards and Recognition

At the EdgeProp Singapore Excellence Awards, SingHaiyi was named Top Developer in 2024. Grand Dunman took Top Development, Top Selling Project in the Rest of Central Region and Top Mega Development in the same year; TMW Maxwell took Landscape Excellence, Design Excellence, Marketing Excellence and Showflat Excellence in 2024; SORA took Top Development in 2025; and The Collective at One Sophia took Showflat Excellence in 2025. At the PropertyGuru Asia Property Awards Singapore, Grand Dunman won five awards in 2023 across Best Mega Scale Condo Development, Best Mega Scale Condo Architectural Design, Best Mega Scale Condo Landscape Design, Best Private Condo Development and Best Sales Gallery Architectural Design, with Parc Clematis winning three in 2019 and The Vales three in 2018. These awards cover the wider SingHaiyi portfolio rather than Vela Bay itself.

One strand of that record carries directly into Vela Bay. Grand Dunman was certified BCA Green Mark Platinum Super Low Energy, and Vela Bay is certified at the same tier with Whole Life Carbon and Maintainability badges, delivered through on-site solar offsetting at least 30% of common area energy consumption, 5-tick air conditioning, high-efficiency LED lighting and a 65% Advanced Precast Concrete System. Grand Dunman also shares Vela Bay’s architect, P & T Consultants.

For more information, visit www.singhaiyi.com.