Raffles Place is reputed as the mercantile hub of Singapore and is home to many key buildings and daring sky scrapers. The founder of this commercial area was Sir Stamford Raffles who is known as the founder of “modern Singapore”. The area on which the district was built had to be reclaimed as it was a marsh area next to the river thus was the first reclamation project in Singapore.

 

Known as Commercial Square at that time, the area was simply a green area but soon experienced development as the economy of Singapore grew.  The development paved way for an invasion of a multitude of office premises, banks and many leading establishments. The name change occurred in 1858 and new areas were added to the

area such as Raffles Quay which was home to well-known retail stores and banks. Raffles Quay soon was transformed into an established commercial area as mercantile buildings disseminated with the vicinity.

 

Raffles Place is home to Robinson’s and John Little which are two of the oldest surviving department stores. The venue was the target of the Japanese bombs in 1941 but continued grow amidst such devastating setbacks. The banking industry in Singapore flourished in the 20th century and many local banks emerged, competing with globally acclaimed financial institutions.

 

Today some of the oldest banks and firms are still found at this historical venue. An array of hotels in Singapore makes this wonderful place a great vacation destination for young and old alike. It’s a must place for any Singapore traveler.