The square was previously called Parapet and is often referenced as the same name now.

The name of the fountains square derives from the presence of dozens of fountains throughout the square first constructed during Soviet rule of Azerbaijan.

[1] The square is a public gathering place, especially after business hours and during the weekend.

It is an attractive tourist destination with many boutiques, restaurants, shops, hotels and passage.

The fountains square is a location where the city authorities hold many public festivals, shows and celebrations.