One lane of a busy road was closed to traffic due to emergency repairs on Wednesday during rush hour.
A number of businesses reported problems with their water supply and some were even forced to close for a short time.
NI Water said that it had now successfully completed the repairs in the city centre area and was working on another burst on the Grosvenor Road.
They said work should be completed by midnight.
"Restoring customers' supply has been our first priority," the spokesperson added.
"Unfortunately, burst water mains are by their nature unplanned and NI Water would like to thank the public for their patience during this time.  We appreciate how busy businesses are at this time of year and we apologise for the inconvenience.
"It is possible that there may still be some water discolouration, although this should clear in the near future."
Simon McCance of Ginger Bistro was among the restaurants in Belfast that had to close earlier.
However, he said his water was back on at about 17:20 GMT and his restaurant had re-opened.
"Aside from loss of revenue, it's just really disappointing because we've had a good year, but, what can we do?," he said.
Mr McCance said he had about 70 people booked in for the evening and expected about 30 more 'walk-ins'.
"It's a pain more than anything, it's a disruption on a very busy week," he said.
NI Water has apologised for any inconvenience and has urged customers to contact Waterline on 03457 440088 or go to its website for further updates.
Disruption caused by burst water pipes in Belfast city centre has ended.