A food and beverage (F&B) culture has sprung to life in Singapore’s financial district recently on the back of a growing population of office workers, residents and visitors there, according to a report on Tuesday.
Dining in the central business district (CBD) could become even more popular in future, property consultancy Colliers said.
It noted that more than 10 years ago, the CBD was “often characterised as one-dimensional, with office buildings laid out side by side with its worker population plying 9 am to 5 pm work hours”.
But the district has since been steadily transformed by high-rise residences, the integrated resort and other business hotels alongside gleaming new office towers, it said.
“The increased level of human activity in the CBD has led to an explosion of the food and beverage (F&B) culture in Singapore’s financial district, where all types of dining concepts and watering holes can be found catering to every price and taste,” Colliers said in its report, released yesterday.
The CBD takes in Raffles Place, Shenton Way, Tanjong Pagar and Marina Bay. It is part of the “Downtown Core”, which also includes City Hall and Bugis.
The number of office workers and residents in the financial district has shot up in recent years.
The working population in the downtown core is estimated to have expanded from 239,000 workers in 2003 to 356,000 last year – an increase of almost 50 per cent over the 10-year period, said Colliers.
City living has also grown more popular since the launch of the 646-unit Icon in Gopeng Street in 2003 and the 1,111-unit The Sail@Marina Bay in 2004, it said.
There are about 5,300 completed high-rise private homes in the CBD now.
“The increase in office-working population during the weekdays, the live-in population of residents and business travellers staying in the 2,561-room Marina Bay Sands (MBS) and other hotels in the CBD, and the transient tourists who make their way to the attractions at MBS, the Merlion Park and Gardens by the Bay, have created a critical mass where F&B trades can flourish,” noted Colliers.
The detailed report can be found: