When Is Vela Bay Expected to Be Completed?

Published 23 October 2026 · Based on the developer’s particulars, plans and brochure

The Completion Dates for Vela Bay

The developer of Vela Bay, Bayshore Walk Pte. Ltd., gives two dates in its published particulars: vacant possession is expected by 31 December 2031, and legal completion by 31 December 2034. The first is the date by which it expects to hand over the homes; the second, three years later, is its expected date of legal completion.

These are expected dates. The dates that bind the developer for a particular home are the ones written into that home’s sale and purchase agreement, and the Sales Concierge can point a buyer to them before booking.

Sources: the developer’s particulars, floor plans and site plan; URA media release, 28 March 2025; press reports of the April 2026 preview and launch.

From Land Award to Launch at Vela Bay

Vela Bay began as the Bayshore Road land parcel, which URA offered on a 99-year lease under the Government Land Sales programme. On 28 March 2025 URA announced the award of the tender to Sing-Haiyi Garnet Pte. Ltd., for a site of about 10,497 square metres. The lease began on 25 June 2025, and the 99 years run from that date, as the developer’s particulars state.

The building plans were approved on 9 February 2026, the date printed on the developer’s floor plans and site plan. The preview opened on 11 April 2026, and sales bookings followed two weeks later, on 25 April 2026, as reported at the time. Vela Bay is now open for sale and under construction, the first private residential development of the new Bayshore precinct.

The development stands on Lot 11342L of Mukim 27 at Bayshore Walk and comprises two residential towers of 31 storeys, with nine homes to each floor, over two basements: 515 homes in all, with the addresses 1 Bayshore Walk for Block 1 and 3 Bayshore Walk for Block 3.

How Construction Progress Shapes Payments at Vela Bay

Because Vela Bay is sold while it is being built, its homes are paid for under the normal progressive payment scheme. Each instalment falls due when a stage of construction is certified, from the foundation and the reinforced concrete framework to the roofing, the doors and windows and the car park, roads and drains.

The two largest instalments come at the end: 25% of the price at the Temporary Occupation Permit and the final 15% at the Certificate of Statutory Completion. The Vela Bay payment scheme page lists every stage, and the progressive payment calculator works out the sum and an estimated monthly instalment at each one for any figure entered.

If some stages are already certified when a home is booked, the instalments already due are paid on the timetable in the sale and purchase agreement, which usually brings a larger sum forward. The Sales Concierge confirms the stages reached for a particular home.

The Team Building Vela Bay

Bayshore Walk Pte. Ltd. holds housing developer’s licence C1542, and the development is presented by SingHaiyi Group, whose brochure records CONQUAS Band 1 recognition from BCA for consistent construction quality over six years. The agents’ briefing names the project team below. P&T Consultants, the architect, gave the towers a sleek glass facade on their main elevations against undulating ledges and balconies, so that the two buildings read like yachts at anchor.

Sources: the developer’s published particulars and the agents’ briefing, as listed on this site’s developer page.

The two towers rise 31 storeys over two basements, and the development is certified BCA Green Mark Platinum Super Low Energy. The Vela Bay developer page describes the company and the design team.

Following the Progress of Vela Bay

The latest updates for Vela Bay keep a dated release log, newest first, and list what comes next: the homes still open on the balance units chart as sales continue, new caveats on the recent transactions page, the construction milestones under the progressive payment scheme on the way to vacant possession, and any statutory change to stamp duty or loan limits.

For a buyer, the practical point is that the first instalments are paid long before the keys: the booking fee and the share due with the sale and purchase agreement come first, the bank loan is drawn as the towers go up, and the last two instalments, 25% and 15% of the price, fall due at the Temporary Occupation Permit and statutory completion. Showflat viewings are arranged by appointment through the Sales Concierge.

General information as at the date shown, not financial, legal or tax advice. Particulars of Vela Bay come from the developer’s published particulars, brochure, plans and agents’ briefing; statutory figures are those on this site’s financing pages, and distances are straight lines measured on OneMap. Sources: the developer’s published particulars, floor plans and site plan, the agents’ briefing, the URA media release of 28 March 2025 and press reports of the April 2026 preview and launch, as set out on this site’s project details and latest updates pages.