Chinatown will be lit with 88 life-sized horse-shaped lanterns and dazzling gold coins to usher in the Year of the Horse.
President Tony Tan Keng Yam is the guest-of-honour for the official light-up and opening ceremony this Saturday, which will feature firecrackers and fireworks, martial arts performances as well as festive song and dance.
One of the highlights will be a traditional lion dance performance, done to South Korean singer Psy's wildly popular song, Gangnam Style.
The idea stems from the organiser, the Kreta Ayer-Kim Seng Citizens' Consultative Committee, wanting to attract more young people to Chinatown. To that end, it has also started a Chinatown walking tour where visitors will be educated about the precinct's heritage and rationale for local Chinese New Year traditions.
The walking tour will take place on three weekends. More information is available at chinatownfestivals.sg.
The seven-week celebrations from Jan 10 to Feb 28 are themed "Galloping to Prosperity" and they will include an International Lion Dance Competition on Jan 18 and nightly stage shows with festive song and dance. This year's festive bazaar will also feature 480 stalls in the buzzing heart of Chinatown.