Vela Bay.
The brief
Vela Bay comprises two 31-storey towers on Bayshore Road, directly across from East Coast Park and a three-minute walk from Bayshore MRT on the Thomson-East Coast Line. Developer EL Development has an established track record in the East Coast corridor, including Parc Riviera (West Coast Vale) and Copen Grand (Tengah).
The site sits within the Bayshore precinct, a designated growth node under the URA Master Plan 2019. The upcoming Bayshore residential enclave will eventually add approximately 10,000 new homes to the area, with a mixed-use town centre planned along the MRT corridor. [Town centre timeline and programme subject to URA finalisation.]
Location context. Bayshore MRT (TE30) provides direct access to Gardens by the Bay (3 stops), Marina Bay (4 stops), and Orchard (8 stops). East Coast Park is directly accessible via an underpass from the development site. Bedok town centre with full amenities is 1.4km by road or accessible via a short bus connection.
Price context. Indicative psf at $2,100 - $2,450 represents a premium of 8-12% over comparable East Coast resale units in the same vintage, reflecting the TEL MRT proximity and new-build premium. [All pricing figures are unconfirmed - treat as indicative only.]
What to watch. The Bayshore precinct land supply pipeline is significant. Buyers should model future supply impact on exit capital values before committing. The East Coast Park proximity is a durable locational advantage that has historically supported resale demand in the corridor.
Three things to know.
TEL at 3 minutes
Bayshore MRT (TE30) opens with the development. Direct access to Gardens by the Bay, Marina Bay, and Orchard without changing lines - a rare straight shot from the East Coast to the city.
East Coast Park, permanently
Direct underpass access to the park from the site boundary. The park is a permanent green belt - it cannot be developed. Unlike MRT proximity, this amenity has no supply risk.
Bayshore precinct uplift
URA's Bayshore growth node designation means new town centre amenities, retail, and infrastructure are coming. Buying pre-town-centre is historically the better entry point in Singapore new towns.
Unit mix
515 units. 4 typologies.
| Type | Size (sqft) | Stacks | Indicative PSF | Price from |
|---|---|---|---|---|
| 1-Bedroom | 431 - 506 | 80 | $2,300 - $2,450 | fr. $1.05M |
| 2-Bedroom | 624 - 753 | 180 | $2,200 - $2,380 | fr. $1.40M |
| 3-Bedroom | 883 - 1,098 | 175 | $2,130 - $2,280 | fr. $1.92M |
| 4-Bedroom | 1,270 - 1,528 | 80 | $2,100 - $2,200 | fr. $2.72M |
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