Named after the nearby Esplanade Park, it consists of two rounded structures: one housing a concert hall with about 1,600 seats; and the other a theatre with a capacity of about 2,000 for the performing arts.

[8] On 5 July 2005, the opening ceremony of the 117th IOC Session was staged in the Esplanade, featuring a 30-minute-long performance aimed at showcasing Singapore's multi-cultural heritage to her international audience.

This loss was despite the Esplanade racking up relatively similar numbers in terms of audience attendance and activities from the previous year and was attributed primarily to the drop in sponsorship and donations.

The building was designed by two architectural firms working in conjunction: by DP Architects (DPA) of Singapore and the London-based Michael Wilford & Partners (MWP), although the latter left the project in May 1995.

The design consists of two rounded space frames fitted with triangulated glass elements and sunshades, which balance outward views with solar shading.

[13] More than 7,000 triangular aluminium sunshades that cover its two circular glass shell structures looked somewhat like spikes on two halves of the fruit.

They wanted to use glass because the views from Esplanade are beautiful in all directions, but since Singapore is so close to the equator, the structure also had to be protected from the sunshine and heat radiation.

The Lyric Theatre which has a capacity of about 2,000 seats is a type of an adaptation of the horseshoe form of a traditional European opera house.

The fan-shaped Recital Studio is able to contain 245 people and is a venue for small scale chamber musical performances, as well as presentations and meetings.

On 10 April 2017, the Ministry of Culture, Community and Youth announced that a new mid-sized waterfront theatre will be constructed at the now closed open-air car park.