Raffles Place was formerly known as Commercial Square, earmarked by Sir Stamford Raffles as the commercial centre. With more banks and trading companies set up their businesses in the area, the importance of Commercial Square was boosted and quickly established as an international trading centre for many foreign companies. In 1858, the Municipal Commissioners renamed the area Raffles Place, in recognition of Raffles" foresight. In the early 1970s, towering and modern skyscrapers emerged giving us the skyline of Raffles Place today.
OUB Centre was completed by end 1986, standing right at the centre of Singapore's commercial heart. Designed by the late Professor Kenzo Tange, OUB Centre comprised a 6-storey retail podium, a 60-storey office tower facing Raffles Place and a 5-storey building at the junction of Market Street and Chulia Street. At 280 metres, it was then the highest building outside United States, commanding a panoramic view of the harbour, Singapore River and neighbouring islands.
In 2012, in replacement of the 5-storey building, a brand-new 38-storey Tower Two signifies a new step in the evolving history of Singapore's most established commercial district. Standing alongside Tower One, it adds a new dimension to the majestic Singapore city skyline.