The land
What a parcel at Bayshore Road cost, and who is named on what.
All of it from URA’s own tender file and licence register, read on 13 September 2026. None of it appears in the four documents supplied with the project.
The parcel
10,497.3 square metres at plot ratio 4.2.
URA launched the Bayshore Road land parcel for tender on 26 November 2024. The tender closed on 18 March 2025 and was awarded on 28 March 2025. The site is 10,497.3 sqm with a maximum permissible gross floor area of 44,089 sqm — a gross plot ratio of exactly 4.2 — on a 99-year lease, for residential use.
- Site area
- 10,497.3square metres / 112,993 sq ft
- Maximum GFA
- 44,089square metres, at gross plot ratio 4.2
- Lease
- 99years, residential use
- Awarded
- $658.9mto Sing-Haiyi Garnet Pte. Ltd. on 28 March 2025
The rate, worked out
URA prints the winning bid as $658,888,998 and $14,944.52 per square metre of gross floor area. In the units a Singapore buyer thinks in, 44,089 sqm of GFA is 474,570 sq ft, so the land rate is $1,388 per square foot per plot ratio. Spread over the 515 homes, that is $1,279,396 of land under each one, before a single brick.
The tender
Eight bids, and four-fifths of one per cent between first and second.
The top two bids were $5,358,998 apart on a parcel of 44,089 square metres — a margin of 0.82 per cent, or $10,406 a home. The spread from first to last was $173,888,998, or 35.9 per cent.
| Rank | Tenderer | Tendered sale price | Per sqm of GFA |
|---|---|---|---|
| 1 | Sing-Haiyi Garnet Pte. Ltd. | $658,888,998 | $14,944.52 |
| 2 | Sing Holdings Residential Pte. Ltd. | $653,530,000 | $14,822.97 |
| 3 | CDL Polaris Properties Pte. Ltd. | $620,800,000 | $14,080.61 |
| 4 | Frasers Property Phoenix II Pte Ltd, Sekisui House, Ltd. and KH Capital Pte. Ltd. | $610,000,001 | $13,835.65 |
| 5 | Kingsford Huray Development Pte Ltd | $594,500,000 | $13,484.09 |
| 6 | Hoi Hup Realty Pte Ltd and Sunway Developments Pte. Ltd. | $594,200,000 | $13,477.28 |
| 7 | Intrepid Investments Pte. Ltd., TID Residential Pte. Ltd. and CSC Land Group (Singapore) Pte. Ltd. | $500,675,566 | $11,356.02 |
| 8 | Sim Lian Land Pte Ltd and Sim Lian Development Pte Ltd | $485,000,000 | $11,000.48 |
Familiar names
Two of the losing bidders appear on other project sites here: Hoi Hup Realty and Sunway Developments, sixth at $594.2 million, are the developers of Terra Hill; Sim Lian, eighth at $485 million, is the developer of Amberwood. CDL, Frasers with Sekisui House, Kingsford and Intrepid with TID and CSC Land make up the rest.
The names
The company that won the land is not the company on the licence.
URA awarded the parcel to Sing-Haiyi Garnet Pte. Ltd.. URA’s Housing Developer’s Licence register names the developer of Vela Bay as Bayshore Walk Pte. Ltd., of 9 Temasek Boulevard, Suntec Tower Two — licence C1542, issued 29 October 2025, licence type Sale, for “515 units of flat/apartment on Lot 11342L MK27 at Bayshore Walk”.
Neither company is named anywhere in the eBook, the site plan, the location map or the floor plans. A single-project company holding the licence is ordinary practice on a Government Land Sales site; it is written down here because a buyer signing an agreement should recognise the name on it.
Awarded to
Sing-Haiyi Garnet Pte. Ltd.
Highest of eight bids at $658,888,998, 28 March 2025.
Licensed to
Bayshore Walk Pte. Ltd.
Licence C1542, issued 29 October 2025, for 515 units on
Lot 11342L MK27.
Building plan
BP No. A1716-00045-2025-BP01
Dated 9 February 2026, as printed on all twenty
floor-plan sheets and on the sales-gallery site plan.
Still open
Three things this page will not guess at.
Lease commencement
URA gives the lease period as 99 years and stops there. No supplied document and no public record read on 13 September 2026 gives a commencement date. On a leasehold purchase that date is worth asking for in writing.
Expected TOP
Not stated in any of the four documents. OneMap returns both addresses as VELA BAY (U/C). The expected dates for vacant possession and legal completion are set out in the Sale and Purchase Agreement.
Prices
No price list was supplied, so none is published and none is invented. The land cost is here because URA published it. Message Andee and the price list goes out the day it is released.
Vela Bay
Ask for what the brochure does not say.
The price list when it lands, the lease commencement date, the expected TOP and the balance of any stack — in writing.