This area is called Stadtlounge.
Stadt means public in German, so Stadtlounge simply means: a public lounge.
Today, its the financial district of St. Gallen with modern banks and insurance buildings.
The idea was to create a “public living room” amid the mini-skyscrapers of the financial district.
The winning design for “Stadtlounge” was proposed by artist Pipilotti Rist and the Carlos Martinez architectural firm.
Sources:Mapolis Magazine/Europe for Visitors/The Guardian/Lisa Town