Can you provide information about Vela Bay

Vela Bay is a new 99-year leasehold condominium development along Bayshore Road in District 16 (Bedok/Upper East Coast), featuring approximately 515 residential units including 1- to 5-bedroom apartments and penthouses, with TOP expected in 2030.

Key highlights include its position as the first private luxury launch in the Bayshore precinct in over 25 years, offering first-mover advantage in a revitalized waterfront area under the URA Bayshore master plan. It's a 1-minute walk to Bayshore MRT (Thomson-East Coast Line, TE29/31), providing ~20-minute access to CBD, Marina Bay, and Orchard Road, plus easy connections to ECP and PIE expressways. Nearby amenities feature proximity to East Coast Park for seaside recreation, Temasek Primary School (within 1km), and family-oriented facilities like resort-style pools, gyms, children's play areas, and landscaped gardens.

Units start from S$1,620,000 for a 2-bedroom partially furnished apartment (600 sqft at S$2,700 psf), with strong investment potential: District 16 has shown steady price growth outperforming neighboring districts, 85.3% profitability on matched new sale-resale transactions (2010-2025), and median condo rents up ~50% to S$3,900/month. Developed by SingHaiyi with a premium track record, previews begin 11 April—check EdgeProp Singapore for latest listings, e-brochures, and VVIP details.