Bayshore Road
AwardedResidential. URA sale site, built as Vela Bay.
S$658,888,998
S$14,944.52 psm GFA, about S$1,388 psf ppr (derived). Awarded 28 March 2025 to Sing-Haiyi Garnet Pte. Ltd., parent: SingHaiyi Group Ltd.
| Location | Allowable development | Site area | Maximum permissible GFA | Successful tenderer | Tendered price (S$ psm of GFA) |
|---|---|---|---|---|---|
| Bayshore Road | Residential | 10,497.3 m² | 44,089 m² | Sing-Haiyi Garnet Pte. Ltd., parent: SingHaiyi Group Ltd. | S$658,888,998(S$14,944.52) |
As listed at the close of 18 March 2025 (ura-pr25-11), with the outcome the award of 28 March 2025 gave each.
| Rank | Tenderer | Tendered price | S$ psm GFA | S$ psf ppr (derived) | Outcome |
|---|---|---|---|---|---|
| 1 | Sing-Haiyi Garnet Pte. Ltd., parent: SingHaiyi Group Ltd. | S$658,888,998 | S$14,944.52 | S$1,388 | Awarded |
| 2 | Sing Holdings Residential Pte. Ltd. | S$653,530,000 | S$14,822.97 | S$1,377 | Unsuccessful |
| 3 | CDL Polaris Properties Pte. Ltd., parent: City Developments Limited | S$620,800,000 | S$14,080.61 | S$1,308 | Unsuccessful |
| 4 | Frasers Property Phoenix II Pte Ltd, parent: Frasers Property Limited, Sekisui House, Ltd. and KH Capital Pte. Ltd., parent: Kheng Leong Company (Private) Limited | S$610,000,001 | S$13,835.65 | S$1,285 | Unsuccessful |
| 5 | Kingsford Huray Development Pte Ltd, parent: Kingsford Group | S$594,500,000 | S$13,484.09 | S$1,253 | Unsuccessful |
| 6 | Hoi Hup Realty Pte Ltd and Sunway Developments Pte. Ltd., parent: Sunway Berhad | S$594,200,000 | S$13,477.28 | S$1,252 | Unsuccessful |
| 7 | Intrepid Investments Pte. Ltd., parent: Hong Leong Holdings Limited, TID Residential Pte. Ltd., parent: Hong Leong Holdings Limited / Mitsui Fudosan Co., Ltd. (joint venture) and CSC Land Group (Singapore) Pte. Ltd. | S$500,675,566 | S$11,356.02 | S$1,055 | Unsuccessful |
| 8 | Sim Lian Land Pte Ltd, parent: Sim Lian Group Limited and Sim Lian Development Pte Ltd, parent: Sim Lian Group Limited | S$485,000,000 | S$11,000.48 | S$1,022 | Unsuccessful |
Press releases, latest first
Each card is one release on its own date, with its text folded beneath. The latest is first and open.
28 March 2025
AwardedTender award for URA sale site at Bayshore Road
Awarded to
Sing-Haiyi Garnet Pte. Ltd., parent: SingHaiyi Group Ltd., S$658,888,998 (S$14,944.52 psm GFA, about S$1,388 psf ppr).
Read the press releaseHide the press releaseura-pr25-13
1. The Urban Redevelopment Authority (URA) has awarded the tender for the site at Bayshore Road to the highest tenderer, Sing-Haiyi Garnet Pte. Ltd.
2. The site at Bayshore Road was launched for tender on 26 November 2024. The tender for the site closed on 18 March 2025. The site was offered for sale on a 99-year lease term.
3. Details of the awarded site and the successful tenderer are provided below:
Table caption
| LOCATION | ALLOWABLE DEVELOPMENT | SITE AREA | MAXIMUM PERMISSIBLE GROSS FLOOR AREA (GFA) | SUCCESSFUL TENDERER | TENDERED PRICE ($PSM of GFA) |
|---|---|---|---|---|---|
| Bayshore Road | Residential | 10,497.3 m2 | 44,089 m2 | Sing-Haiyi Garnet Pte. Ltd. | $658,888,998.00 ($14,944.52) |
18 March 2025
Tender closedTender closing for URA sale site at Bayshore Road
8 bids disclosed
Highest S$658,888,998 (S$14,944.52 psm GFA) from Sing-Haiyi Garnet Pte. Ltd., parent: SingHaiyi Group Ltd.
Read the press releaseHide the press releaseura-pr25-11
This article has been migrated from an earlier version of the site and may display formatting inconsistencies.
1. The Urban Redevelopment Authority (URA) closed the tender for the site at Bayshore Road today.
2. The site at Bayshore Road was launched for public tender on 26 November 2024.
3. Please see Annex A for details of the site and tender bids received.
4. This is not an announcement of tender award. A decision on the award of the tender will be made after the bids have been evaluated. This will be publicised at a later date.
26 November 2024
Launched for tender, Confirmed ListURA releases three sale sites at Media Circle and Bayshore Road
Read the press releaseHide the press releaseura-pr24-54
1. The Urban Redevelopment Authority (URA) has released three residential1 sites at Media Circle (Parcel A & B) and Bayshore Road for sale under the second half of 2024 (2H2024) Government Land Sales (GLS) Programme.
2. The sites at Media Circle (Parcels A & B) and Bayshore Road are launched for sale under the Confirmed List and can potentially yield 325, 500 and 515 residential units respectively. These form part of the 5,050 residential units to be released via the Confirmed List of the 2H2024 GLS programme to cater to housing demand and maintain market stability.
3. The Government will continue to release a steady supply of private residential units in coming GLS programmes, with supply calibrated to account for prevailing economic and property market conditions.
4. Details on the three land parcels can be found in Annex 1._
Other Details 5. The tenders for the sites at Media Circle (Parcels A & B) and Bayshore Road will close at 12 noon on 4 March 2025, 29 April 2025 and 18 March 2025 respectively. More details on the three land parcels are available on the URA website.
Media Circle (Parcels A & B) and Bayshore Road
1 The sites at Media Circle are zoned Residential with Commercial at 1st Storey, while the site at Bayshore Road is zoned Residential (see Annex 1 ). _
13 June 2024
Released on the Reserve ListURA releases three sale sites at Dairy Farm Walk, Tengah Garden Avenue and Bayshore Road
Read the press releaseHide the press releaseura-pr24-28
This article has been migrated from an earlier version of the site and may display formatting inconsistencies.
1. The Urban Redevelopment Authority (URA) has released three residential1 sites at Dairy Farm Walk, Tengah Garden Avenue and Bayshore Road for sale today under the first half 2024 (1H2024) Government Land Sales (GLS) Programme.
2. The sites at Dairy Farm Walk and Tengah Garden Avenue are launched for sale under the Confirmed List and can potentially yield 540 and 860 residential units respectively. These form part of the 5,450 residential units to be made available via the Confirmed List of the 1H2024 GLS programme. The site at Bayshore Road is available for application under the Reserve List and can potentially yield 515 units. Together, these three sites can provide a potential supply of 1,915 residential units.
3. To cater to demand, the Government has increased the Confirmed List supply of private housing in the GLS programme to 5,450 units in 1H2024, from 4,090 units in 1H2023 and 5,160 units in 2H2023. This is the highest supply on the Confirmed List in a single GLS Programme since the 2H2013 GLS Programme.
4. Details on the three land parcels can be found in Annex 1._
Other Details 5. The tenders for the Dairy Farm Walk and Tengah Garden Avenue sites will close at 12 noon on 14 January 2025. More details on the three land parcels are available on the URA website.
1 The sites at Dairy Farm Walk and Bayshore Road are zoned Residential, while the site at Tengah Garden Avenue is zoned Residential with Commercial at 1st Storey (see Annex 1 )
Site facts
- Selling authority
- URA
- Allowable development
- Residential
- Tenure
- 99 years
- Programme list
- Confirmed List, launched for tender[ura-pr24-54/pr24-54a.pdf]
- Site area
- 10,497.3 sqm[ura-pr24-54/pr24-54a.pdf]
- Maximum GFA
- 44,089 sqm[ura-pr24-54/pr24-54a.pdf]
- Estimated housing units
- 515[ura-pr24-54/pr24-54a.pdf]
- Height control
- 101-105m SHD[ura-pr24-54/pr24-54a.pdf]
- Facts as stated on
- 26 November 20242 versions on record: 13 June 2024, 26 November 2024. Each is kept; the one in force on the reading date is shown.
The market when bids closed
When bids closed on 18 March 2025, URA's latest quarterly figures were for 4Q2024, published 24 January 2025, 53 days earlier. The next release, 1Q2025, came on 25 April 2025. The table carries on through four releases after it.
| Private residential | 2Q2024Jul 2024 | 3Q2024Oct 2024 | On the day4Q2024Jan 2025 | 1Q2025Apr 2025 | 2Q2025Jul 2025 | 3Q2025Oct 2025 | 4Q2025Jan 2026 | Trend | Change4Q2024 to 4Q2025 |
|---|---|---|---|---|---|---|---|---|---|
| Prices | |||||||||
| Private home price index | 206.1 | 204.7 | 209.4 | 211.1 | 213.2 | 215.1 | 216.4 | +3.3% | |
| Non-landed, core central region | 152.6 | 150.9 | 154.8 | 156.0 | 160.7 | 163.4 | 157.7 | +1.9% | |
| Private rental index | 156.6 | 157.9 | 157.9 | 158.5 | 159.8 | 161.7 | 160.9 | +1.9% | |
| Sales | |||||||||
| New homes sold by developers | 725 | 1,160 | 3,420 | 3,375 | 1,212 | 3,288 | 2,940 | −14.0% | |
| Resales | 3,802 | 3,860 | 3,702 | 3,565 | 3,647 | 3,881 | 3,529 | −4.7% | |
| Sub-sales | 388 | 352 | 311 | 321 | 269 | 235 | 230 | −26.0% | |
| Units launched | 634 | 1,284 | 3,425 | 3,139 | 1,520 | 4,191 | 2,632 | −23.2% | |
| Supply | |||||||||
| Unsold, uncompleted, with planning approval | 19,940 | 19,405 | 18,125 | 18,498 | 17,029 | 14,859 | −23.4% | ||
| Pipeline with planning approval | 37,768 | 35,475 | 35,305 | 35,364 | 36,663 | 36,814 | 35,690 | +1.1% | |
| Vacancy rate | 6.1% | held | 6.6% | 6.5% | held | held | 6.0% | −0.6 pts | |
Each figure is the quarter's own value as URA printed it in that quarter's release, not as later revised. Select a figure to see the annex and page it comes from.
Held back: URA prints the number in more than one place and the table's labels do not settle which one it is, so the archive stores it but does not show it.
Sources
- Press releasePublished 13 June 2024
URA releases three sale sites at Dairy Farm Walk, Tengah Garden Avenue and Bayshore Road
Urban Redevelopment Authority · Retrieved 18 September 2026
Source fact · Source-backedTechnical details
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- Retrieved at
- 2026-09-18 15:39:37 UTC
- Prevo reference
- ura-pr24-28
- AnnexPublished 13 June 2024
Annex 1 to URA releases three sale sites at Dairy Farm Walk, Tengah Garden Avenue and Bayshore RoadVersion v1
Version v1 of the annex as linked from the release page; the authoritative version. Earlier versions were not supplied and are not in the capture, so supersedes_doc_key is null.
Urban Redevelopment Authority · Retrieved 18 September 2026
Source fact · Source-backedTechnical details
- SHA-256
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- 2026-09-18 15:39:37 UTC
- Source version
- v1
- Prevo reference
- ura-pr24-28/pr24-28a_v1.pdf
- Press releasePublished 26 November 2024
URA releases three sale sites at Media Circle and Bayshore Road
Urban Redevelopment Authority · Retrieved 18 September 2026
Source fact · Source-backedTechnical details
- SHA-256
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- Size
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- 2026-09-18 15:39:39 UTC
- Prevo reference
- ura-pr24-54
- AnnexPublished 26 November 2024
Annex 1 to URA releases three sale sites at Media Circle and Bayshore Road
Urban Redevelopment Authority · Retrieved 18 September 2026
Source fact · Source-backedTechnical details
- SHA-256
- d883057da28ea9d82b944cfef980809c222c5d986c5da53e5f76641050977bd2
- Size
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- 2026-09-18 15:39:39 UTC
- Prevo reference
- ura-pr24-54/pr24-54a.pdf
- Press releasePublished 18 March 2025
Tender closing for URA sale site at Bayshore Road
Urban Redevelopment Authority · Retrieved 18 September 2026
Source fact · Source-backedTechnical details
- SHA-256
- aee3c02fb61839577bb172b534da0b20b0d246a43f4c17c546502aea43d206c4
- Size
- 424,149 bytes
- Format
- text/html
- Retrieved at
- 2026-09-18 16:56:51 UTC
- Prevo reference
- ura-pr25-11
- AnnexPublished 18 March 2025
Annex A to Tender closing for URA sale site at Bayshore Road
Urban Redevelopment Authority · Retrieved 18 September 2026
Source fact · Source-backedTechnical details
- SHA-256
- d48e17e105709d0ee4ed966df34eb1c586b3a12a546d8089bdc2e56a753a829c
- Size
- 7,839 bytes
- Format
- application/pdf
- Retrieved at
- 2026-09-18 16:56:51 UTC
- Prevo reference
- ura-pr25-11/pr25-11a.pdf
- Press releasePublished 28 March 2025
Tender award for URA sale site at Bayshore Road
Urban Redevelopment Authority · Retrieved 18 September 2026
Source fact · Source-backedTechnical details
- SHA-256
- 62921aad9df1b53c2cd5496a7d3372c0bfbe6720cea7ec2f1a25957b3c23dabc
- Size
- 446,638 bytes
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- Retrieved at
- 2026-09-18 16:56:52 UTC
- Prevo reference
- ura-pr25-13