Commerce Square

The Praça do Comércio, located along the banks of the Tagus River in Lisbon, is one of the most emblematic and historically significant squares in Portugal. Also known as Terreiro do Paço, the square is a symbol of rebirth and transformation, marked by crucial events that have shaped the country’s history. Originally, the area where the Praça do Comércio stands housed the Paço da Ribeira, the royal palace built in the 16th century under the reign of King Manuel I. This palace was the political and cultural center of Portugal until the devastating earthquake of 1755, which completely destroyed it. The event marked a turning point in Lisbon’s history, as the city had to be almost entirely rebuilt. The Marquis of Pombal, Sebastião José de Carvalho e Melo, was the main architect of Lisbon’s reconstruction. His modern and forward-thinking urban vision transformed the city, with the Praça do Comércio becoming its symbol. The square was designed by architect Eugénio dos Santos, who created a large open space with a rectangular layout, surrounded by uniform buildings with arcades and loggias. At the center of the square stands the equestrian statue of King Joseph I, sculpted by Joaquim Machado de Castro and inaugurated in 1775. The choice of the name Praça do Comércio reflects the economic and commercial importance of the square. It became the hub of Lisbon’s mercantile and financial activities, hosting numerous government institutions and commercial offices. Its design symbolized order and progress, with wide avenues branching out from the square, facilitating the movement of goods and people. One of the most distinctive architectural elements of the Praça do Comércio is the Arco da Rua Augusta, a monumental triumphal arch marking the entrance to the Baixa Pombalina, the district rebuilt after the earthquake. Initially designed by Veríssimo José da Costa and completed in 1873, the arch is decorated with sculptures representing allegorical figures of Glory, Genius, and Valor, as well as historical figures like Vasco da Gama and the Marquis of Pombal himself. The Praça do Comércio is not only an architectural symbol but also a site of significant historical events. It was here that King Carlos I and his son, Prince Luís Filipe, were assassinated in 1908, an event that hastened the fall of the monarchy and the proclamation of the Portuguese Republic in 1910. Additionally, the square has witnessed numerous political and social demonstrations, reflecting its central role in Portugal’s public life. Throughout the 20th century, the Praça do Comércio has undergone various restorations and modernizations to preserve its beauty and historical integrity. Today, the square is a vibrant cultural and tourist center, hosting restaurants, cafes, and museums, including the Lisboa Story Centre, which offers an interactive overview of the city’s history. The square is also the starting point for numerous tourist explorations, with its elegant yellow buildings offering breathtaking views of the Tagus River. The wide staircases leading down to the river, known as Cais das Colunas, are a popular spot to relax and enjoy the scenery.