Lau Pa Sat Festival Market Singapore dates back to 1894 as has a historical significance attached to it. Originally known as the Telok Ayer Market, Lau Pa Sat Festival Market is situated right in Singapore's central business district. The original name of the market is derived from its structure which was a simple, wooden one situated on a piles overlooking Telok Ayer Bay. It was much later that the building got its octagonal shape made out of Glasgow cast iron.

The octagonal structure of the Lau Pa Sat Festival Market Singapore was conceptualized by a Municipal Engineer, James Mac Ritchie and was the sole market in the entire city at that time. The market was announced as a national monument in 1973 and underwent a renovation in 1990. It was rechristened as the Lau Pa Sat Festival Market. The market area today is replete with souvenir stalls and food courts.

Though the market has an innovative octagonal shape, yet the design was executed with a finesse worthy of acclamation. It is interesting to note that the Glasgow iron used in the construction of Lau Pa Sat Festival Market was also utilized in building the Cavenagh Bridge. The way the cast iron has been employed for decoration is reminiscent of the Victorian architecture. The columns are crowned with the capitals that provide support to the framework of beams. The archways and eaves brackets bear eloquent testimony to the craftsmanship.

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