Praça do Comércio, which in English means Commerce Square of Lisbon. It is also known as Palace Square or Terreiro do Paço by the local people. This magnificent square of Lisbon and was the principal maritime entrance to the city long years back. The name Palace Square clearly indicates that the Palace was situated here for 400 years, before the 1755 earthquake that completely damaged it.
After the destruction of Terreiro do Praça by the earthquake and had been flooded, the present Praça do Comércio was reconstructed by the architect Santos Carvalho. On the three sides of the square there are identical arcaded facades which nearly mesures 180m/591ft by 190m/624ft.
An unrestricted view of river Tagus can be enjoyed from this point and is called "Lisbon's reception room". The area is adorned by excellent arcaded buildings. Offices of public authorities or ministries are mainly housed in these buildings. In the northwest corner of Praça do Comércio a huge post office is situated and the stock exchange building is on the east side of the square.
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Several restaurants are also located in the area. Martinho da Arcada is the oldest café of Lisbon that is situated in this square.
On the northern part of the square a notable 19th-century victorious arch is located. The sculptures of historical personalities, like Vasco da Gama and Marquês do Pombal are engraved on the arch. This arch leads to Rua Augusta, which is the principal shopping area in Lisbon downtown. The center of the Commerce Square was earlier used as a car-park and at present the statue of King José I, King of Portugal stands there majestically.
Reaching Praça do Comércio is very easy through tram number 17 and 18 and various buses that ply to the destination. Bus number 1, 2, 25, 25A, 28, 7, 43, 44, 83, 90, 107,45, 46, 59, 9, 11, 13, 14, 32, 35, 39, 40, 80, 81, 82, ply from several destinations to the commerce square.
Praça do Comércio in Lisbon is the commercial center of the city where most of the important administrative buildings are located.
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