The film was theatrically released on 7 September 2006, and at one time ranked fifth on the Singapore box office. It won the Montblanc New Screenwriters Award at the 54th San Sebastián International Film Festival, and was the first Singaporean film to receive an IFFPA-recognised international feature film award. Owing to its nature as a Singapore-produced film, "Singapore Dreaming" received much attention from local viewers, film critics and public figures alike, including S. R. Nathan, the President of Singapore. It has been praised by local critics as a relatable portrayal of life in Singapore.