The redevelopment of The Float @ Marina Bay to NS Square was first announced by former Prime Minister Lee Hsien Loong during the NS50 celebrations in 2017 as a tribute to all past and present National Servicemen and their families. Overlooking the city skyline in the background, NS Square will be a permanent tribute and prominent reminder of the central role that National Service plays in ensuring Singapore's peace and prosperity.

NS Square will be a unique venue to stage large-scale national and community events, such as the National Day Parade (NDP) and the Marina Bay Singapore Countdown, host public events such as concerts, performances, sporting activities and competitions, as well as provide more spaces within Marina Bay for the public to enjoy community and recreational activities. When completed, NS Square will further enhance Marina Bay as a choice destination for Singaporeans to come together, reflect our local identity and strengthen our sense of belonging. The redevelopment will also improve pedestrian connectivity and provide a continuous loop around Marina Bay. The new NS Square will include a gallery to showcase our nation's NS story and contributions of generations of National Servicemen to Singapore's defence. The gallery is intended to recognise the importance of National Service in Singapore's peace and security, and to inspire future generations of National Servicemen.